Bitcoin (BTC) Price Analysis – Bitcoin Looks Fragile, Can The Bulls Take-Over?

Bitcoin has extended its bearishness to a new week, although the market has been stable since the price fell to $8400 during last week trading. Currently, Bitcoin is leaning on the $8400 support. If this support can hold well, we should expect a positive move in the coming days. As of now, BTC is consolidating on the hourly chart.

Bitcoin (BTC) Price Analysis: Daily Chart – Bearish

Key resistance levels: $8600, $8800, $9000,
Key support levels: $8300, $8200, $8100

Since Bitcoin broke out of the wedge in late October, the price has substantially decreased due to the selling pressure in the market. For the past three days now, the price of BTC has been trading around the $8500, keeping sellers on hold for a while. Similarly, the sellers seem to be weak at the moment. If the bulls can act upon this, Bitcoin’s price could regain strength.

BTCUSD, Daily Chart – November 18

The nearest resistance to expect the price is $8800, followed by $9000 before we can see a nice growth. On the other hand, a drive beneath the $8400 may allow bearish extension to $8250 and $8100 support. Now, the RSI is well below the 50 levels to reveal that Bitcoin is losing strength, although the MACD is sustaining bulls’ hope as it stays positive.

Bitcoin (BTC) Price Analysis: 4H Chart – Bearish

Bitcoin’s volatility is subdued with choppy price actions on the 4-hour chart. The market is now trading in a tight area which suggests a potential surge lurking around the corner. Taking a look at the RSI indicator, we can see that Bitcoin has been supported by the RSI 30 level since November 8.

BTCUSD, 4H Chart – November 18

If the RSI can continue to bolster, we can expect a bullish move to $8600, $8800 and $9000 resistance. But on the MACD, Bitcoin is still looking negative. Should $8400 support breaks, BTC may drop beneath the yellow horizontal support at $8300, $8200 and $8100. As of now, Bitcoin appeared fragile as big shock-wave is around the corner.

BITCOIN SELL SIGNAL

Sell Entry: $8507
TP: $8356
SL: 8657

Bitcoin (BTC) Price Analysis – Bearish Actions Could Make $9000 Support Weak

Due to recent shrink in volatility, the $9200 has become a trading level for Bitcoin for over two days now. In spite of that, the $9100 – $9000 is currently providing support for the market. On the upside, Bitcoin is holding major support at $9500. We can expect these price zones to provide levels for the market in coming swing, and if not, the price may shift to the next key levels. Now, Bitcoin holds a market cap of $166.6 billion after losing -0.68% overnight.

Bitcoin (BTC) Price Analysis: Daily Chart – Neutral

Key resistance levels: $9500, $10000, $11350
Key support levels: $9000, $8820, $8500

Bitcoin keeps sideways move and has remained calm for the past 12 days now. Since the October 26 rejection at around $11400, the price volatility has been subdued with a squeeze, although Bitcoin appears to be footing a bullish move. Before we can see a positive move, the market is likely to retest the $8500 – $8800 support zone. Meanwhile, Bitcoin currently held support at $9000.

BTCUSD, Daily Chart – November 8

If we can see an upward movement, the resistance to keep in mind is $9500, $10000 and $11350. The technical indicators suggest a potential downward shift in price which may play out if the MACD moving averages cross down. This may also bring the RSI to or below the 50 levels.

Bitcoin (BTC) Price Analysis: Hourly Chart – Bearish

Bitcoin’s MACD has been floating at a fragile level for a while now. It appeared that we may see a price break-down if the technical indicator leaves the positive zone. Still, the BTC trading remains intact in the descending triangle formation – which could follow a bearish breakout. The $9000, $8880 and $8700 may possibly act as support.

BTCUSD-4H-Chart-November-8

Another thing to consider here is the RSI that shows bearish signs. Bitcoin may touch the above supports if the RSI continues to move downward. Alternatively, the bulls may regain control of the market if Bitcoin can break-up the triangle pattern to $9483 to $9776 but close resistance lies at $9300. With the bull flag formation, BTC remains indecisive on the 4-hour time frame.

BITCOIN SELL SIGNAL

Sell Entry: $9192
TP:  $8833
SL: $9315

Bitcoin (BTC) Price Analysis – Downward Shift May Take Bitcoin To $9000 Despite Sideways Move

Bitcoin’s bearish actions have recently extended to the $9100 price areas during the New York session but now correcting at around $9200. We may see a more recovery back above the $9200 once the short-traders exit the market. And if Bitcoin keeps to its last 24-hours decline, we should be expecting a further price roll to the $9000 support zones. However, Bitcoin is now oscillating at around $9100 after losing -0.88% a few hours ago.

Bitcoin (BTC) Price Analysis: Daily Chart – Neutral

Key resistance levels: $9600, $9800, $10000, $10350
Key support levels: $9200, $9000, $8820, $8500

On the daily chart, Bitcoin is following a sideways movement for the past 11 days now. The October 26 price cut at $10350 has made the BTC market to subdue with choppy price actions. Meanwhile, the insignificant volatility is making the trade to stay quiet and calm for a while.

BTCUSD, Daily Chart – November 7

While waiting, Bitcoin’s bullish are still defending the $9000-$8900 support zone, although the market has shown a bearish sign over the past three days now. If the market can stay above the descending channel, Bitcoin may activate a bullish mode to $9800, $10000 and $10350 resistance before testing further resistance. On the downside, a break beneath the $9000 may lead BTC to $8800 and possibly $8500 support.

We can see that the MACD has produced a bullish crossover to show that an incoming bullish momentum. However, the BTC/USD pair is locating support on the RSI mid-band. If the RSI 50 can hold well, we should expect a significant bullish surge to $12000 within a blink of an eye.

Bitcoin (BTC) Price Analysis: Hourly Chart – Bearish

Now that Bitcoin has roaming on the triangle’s support, we may now consider the $9100 to be the next Bitcoin trading zone. Since the weekly opening, BTC has been cutting $100 from its daily price. On Monday, Bitcoin traded around $9500, Tuesday $9400, Wednesday $9300 and could probably close below $9200. However, $9000 is still holding as support, followed by $8900 and $8800 on a short-term bearish move.

BTCUSD, Hourly Chart – November 7

If Bitcoin can hold support well at $9100, we may see a quick recovery to $9300, 9400 and $9500 on the upside. Meanwhile, the RSI is defiantly in a downward position to show a sign of weakness in price. On the MACD indicator, Bitcoin has seen a bearish cross, which suggested that selling pressure is more likely to become heavy in future trading.