• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Bitcoin
Nexo Logo

Bitcoin Breaking This Confluence Resistance Could Spark a Significant Surge

Aayush Jindal by Aayush Jindal
2 years ago
in Bitcoin, Technical analysis
Reading Time: 2 mins read
Advertisement

Bitcoin is trading in a bullish zone above the $11,650 level against the US Dollar. BTC is likely to accelerate higher once it clears the key $12,050 resistance zone.

  • Bitcoin is gaining bullish momentum and it is approaching the $12,000 resistance zone.
  • The price is forming a strong support near the $11,650 level and the 100 simple moving average (4-hours).
  • There is a crucial bullish trend line with support near $11,500 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct a few points, but the price action suggests more gains above $12,000.

Bitcoin is Gaining Traction

In the past few days, there was a positive price action in bitcoin, Ethereum and ripple against the US Dollar. BTC remained well bid above the $11,200 level and the 100 simple moving average (4-hours).

It started a fresh increase from the $11,276 swing low and climbed above the main $11,500 resistance area. There was a break above a connecting bearish trend line with resistance near $11,600 on the 4-hours chart of the BTC/USD pair.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The pair retested the $12,000 resistance zone and it is currently consolidating gains. An initial support is near the $11,800 level. It is close to the 23.6% Fib retracement level of the recent upward move from the $11,276 swing low to $11,977 high.

Bitcoin

Bitcoin price testing $12,000. Source: TradingView.com

The main support is forming near the $11,650 level or the 50% Fib retracement level of the recent upward move from the $11,276 swing low to $11,977 high. There is also a crucial bullish trend line with support near $11,500 on the 4-hours chart of the same chart.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

On the upside, a successful daily close above the $12,000 and $12,050 levels may perhaps open the doors for another rally. The next major resistance could be $12,400 or $12,600.

Dips Likely To Be Supported in BTC

If bitcoin starts a downside correction, it is likely to find support near $11,650 or $11,600. The breakdown support is near the trend line and the $11,500 pivot level.

A downside break below the $11,650 and $11,500 support levels could initiate a substantial downward move in the coming sessions. The next key support is near $11,200, followed by the $11,000 handle.

Technical indicators

4 hours MACD – The MACD for BTC/USD is slowly gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 55 level.

Major Support Level – $11,650

Major Resistance Level – $12,050

Tags: bitcoinbtcusdBTCUSDTxbtusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Bitcoin

TA: Bitcoin Jumps 5%, Why BTC Could Offer Trade Openings On Dips

19 mins ago
Intel Blockscale chips promotional image

Intel Ships Blockscale ASIC Chips To Selected Bitcoin Mining Companies

3 hours ago
Bitcoin Long-Term Holder Capitulation Approaching Bottom Zone, But Not Quite There Yet

Bitcoin Long-Term Holder Capitulation Approaching Bottom Zone, But Not Quite There Yet

8 hours ago
bitcoin

Mounting Support For Bitcoin At $19,000 As Market Ushers In A New Week

10 hours ago
bitcoin performance

Bitcoin Ready For Fireworks? Long Positions See Uptick This 4th Of July

13 hours ago
Bitcoin Stagnates As Whales Continue To Dump

Bitcoin Stagnates As Whales Continue To Dump

15 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Mehracki (MKI), Dash (DASH) and Curve DAO Token (CRV) – 3 Solid Coins to Help You Survive the Crypto Crash

July 4, 2022

GBEX: The exchange token of a “new kind”.

July 4, 2022

Web3 Delight Lagos – Breaking barriers to pave the way for the digital future

July 4, 2022

LBank Exchange Will List DOTORI (DTR) on July 4, 2022

July 4, 2022

WorldPF (WDPF) Is Now Available for Trading on LBank Exchange

July 4, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.