I-Bitcoin (i-BTC) ijika kwi-9,600 ye-$ Resistance, i-May Rebound kwi-Low Low

UAzeez Mustapha

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Imirhumo yenyanga iqala kwi-£58.

Iindawo eziManyeneyo eziPhambili: $ 10,000, $ 11,000, $ 12,000
Iindawo eziNkxaso eziPhambili: $ 7, 000, $ 6, 000, $ 5,000

I-BTC/USD Ixesha elide iTrendi: Uluhlu
Bitcoin has continued its sideways trend for the past one week. The market is still ranging in a tight range between $9,200 and $9,600. In retrospect, in October 2019, Bitcoin was also in a sideways trend at the same price level. The coin was in a sideways trend between October 26 and November 6. The pair fluctuated for two weeks and had a price breakdown.

The coin nosedived to a low of $7,000, in line with the prevailing trend. Today, BTC is in an upward move, a breakout will push Bitcoin to the high of $10,300. On the other hand, a breakdown will catapult the coin to a low of $8,800 or $7,800. Nonetheless, the advantage is on the side of the bulls because of the prevailing trend.

I-BTC / i-USD-Itshathi yemihla ngemihla

Ukutsalwa kwezalathi zemihla ngemihla:
Meanwhile, the MACD line and the signal line are above the zero line which gives the coin a buy signal. Similarly, the 21-day SMA is still above the 50-day SMA indicating the rise of the coin. Besides, EMAs are trending upward indicating the uptrend.

I-BTC / i-USD yeXesha eliPhakathi lokuHamba: Bullish
On the 4-hour chart, BTC is in an uptrend. The price tested the bullish trend line on two occasions and rebounded. The support level on the trend line is where the coin bounces to the previous highs. Meanwhile, the upward move is stuck at the $9,500 resistance. Small body candlesticks are consolidating below the resistance level.

I-BTC / i-USD-4 Itshathi yeYure

Isalathisi seeyure ezingama-4 Ukufunda
As Bitcoin is falling, the Relative Strength Index (RSI) period 14 is also falling. The RSI has fallen to level 49 indicating that Bitcoin is in the downtrend zone. The price has broken below the 21-day SMA and if it extends to the 50-day SMA, selling pressure may resume.

Imbonakalo Jikelele yeBitcoin (BTC)
The pair is likely to continue its range bound movement for a few more days. At the moment, the coin is falling to the lower price range. A long trade should be initiated at a low of $9,200 if the support holds. At the low of $9,200, the price is likely to go up to retest the $9,600 resistance

Umqondiso woRhwebo lwe-BTC
Isixhobo: BTC / USD
Umyalelo: Thenga
Ixabiso lokungena: $ 9,343
Yeka: $ 9,000
Ithagethi: $ 10,300

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UAzeez Mustapha

U-Azeez Mustapha yingcali kwezorhwebo, umhlalutyi wemali, umhleli weempawu, kunye nomphathi wezezimali ngaphezulu kweminyaka elishumi yamava kwicandelo lezemali. Njengombhali webhlog kunye nombhali wezemali, unceda abatyali mali baqonde iikhonsepthi ezintsonkothileyo zemali, ukuphucula izakhono zabo zotyalo-mali, kunye nokufunda ukulawula imali yabo.

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