Bitcoin (BTC) Price Analysis: Hourly Chart – Bearish
Key resistance levels: $7300, $7400, $7500, $7600
Key support levels: $7100, $6880, $6750, $6600
Following slow bearish actions from $7600, Bitcoin touched $7100 today with a pin-bar that eventually brought BTC back to $7200. The latest price rejection was an indication of a bullish action which could allow buying to $7500 and $7600. Still, there’s a need for a channel break-up at $7300.
Meanwhile, Bitcoin is still looking bearish on a short-term. A rejection at the $7300 may keep the downward trend valid, although the price may sharply slip back to $7000 before breaking low to $6880, followed by $6600 support. But looking at the current bullish pattern on the technical indicators, Bitcoin’s price is likely to buy at any moment.
Bitcoin (BTC) Price Analysis: 15M Chart – Bearish
Bitcoin is looking bearish on the 15-minutes time frame, but the price is likely to increase due to the current price break. Bitcoin has established support around $7100 as we can see on the chart below. The current break on the MACD suggests that the buyers are coming back into to market.
More so, we have seen Bitcoin climbing back on the RSI indicator which is likely to allow a short-term buying to $7300, $7400 and $7500 resistance. The buyers may be trapped if $7200 fails to hold as Bitcoin’s price may fade back to $7100 and $7000 support. It may even extend to $6880 and $6750 support. But looking at the market structure, a mid-week reversal could be at play.
BITCOIN BUY SIGNAL
Buy Entry: $7178
TP: $7300 / $7400
SL: 7080
- 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.