Since our previous crypto trading signals, Bitcoin’s price has dropped a bit to the lower trading range of $9300. Meanwhile, the bearish pin bar spotted during the London session has played out as a reversal during the New York session. However, the next major move is likely to surface during the Asian session. For now, Bitcoin is still keeping its sideways trend.
Bitcoin (BTC) Price Analysis: Daily Chart – Bullish
Key resistance levels: $9600, $9800, $10000
Key support levels: $9200, $9000, $8820
Above the $9000, Bitcoin is still looking bullish on the daily chart but last 10 days indecisiveness has suspended the bullish actions. For the past 24-hours, BTC has been finding it difficult to continue the late October surge which has stuck price actions at an average of $9200. Bitcoin’s breakout still remains at $9500, followed by $9800 and $10000 resistance.
In the opposite direction, Bitcoin currently held support at $9000 and $8800 but the $9200 support remains solid. The technical indicators have seen a little drop due to the ongoing bearishness in the market. We can expect a rebound if the $9000 support can hold.
Bitcoin (BTC) Price Analysis: Hourly Chart – Bullish
Bitcoin’s price has remained intact in the rising channel for the past week now. But now, the market has been trading sideways around the channel’s lower boundary since yesterday due to capitulation. Following the pattern formation, Bitcoin is expected to climb towards the upper boundary but volatility is contracting for a while now.
If volatility expansion occurs, on the upside, BTC may spike to $9400, $9500, $9600 and $9700. On the downside, the $9100, $9000, $8900 and $8800 support may hold further selling pressure. As shown on the RSI, Bitcoin is currently looking bearish as the MACD shows that the bears are in play but the market is still in a bullish zone
BITCOIN BUY SIGNAL
Buy Entry: $9279
TP: $9551 / $9400
SL: $9200
- Broker
- Min Deposit
- Score
- Visit Broker
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
- Zero commissions and no bank fees on transactions
- Around the clock service with support in 14 languages
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
