Bitcoin (BTC) Price Analysis: Daily Chart – Bullish
Key resistance levels: $9800, $10000, $10350
Key support levels: $9000, $8820, $8500
The October 25 spike renewed a bullish sentiment for Bitcoin but the calmness has recently made the market indecisive for the past few days. Of course, the reasons for the current price actions could be attributed to a lack of interest amongst traders. We may see a bullish trap if Bitcoin plummets back to the $8000 zones. Meanwhile, close support lies at $9000, $8820 and $8500.
Gaining value above the $9400 may rekindle the past week positive move as $9800, $10000 and $10350 would be the next long target for BTC. As we can see, the MACD is currently positive as well as their RSI, which is finding support at the 50 levels. This suggests that Bitcoin is still keeping a bullish momentum on the daily chart.
Bitcoin (BTC) Price Analysis: Hourly Chart – Neutral
The triangle formation is still making Bitcoin indecisive on the hourly chart. Yesterday, the price touched the lower boundary of the triangle and now we should expect a bounce to the upper boundary, where the $9350 resistance lies. Above the triangle, a quick rise should bring us to $9570 and $9800.
Below the triangle, Bitcoin may find support at $9000 – $8900, which has been a key rebound area for some days. More so, we can see that the RSI is rising back after seeing a sharp fall yesterday. Bitcoin is likely to gain strength as soon as the MACD leaves its negative zone.
BITCOIN BUY SIGNAL
Buy Entry: $9180
TP: $9350
SL: $8900
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.