Bitcoin Price Holds Strong At 100 SMA – A Strengthening Case For Upside
Bitcoin worth is holding the $26,400 assist zone. BTC may acquire bullish momentum if there’s a shut above the $27,000 resistance zone.
- Bitcoin is holding good points above the $26,200 assist stage.
- The worth is buying and selling above $26,500 and the 100 hourly Easy shifting common.
- There’s a connecting bullish development line forming with assist close to $26,500 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
- The pair may begin a gentle improve if it settles above $26,850 after which $27,000.
Bitcoin Value Holds Floor
Bitcoin worth began a good improve above the $26,200 resistance zone. BTC even climbed above the $26,800 stage however failed to remain within the optimistic zone.
There was a minor draw back correction under $26,550. The worth traded as little as $26,412 and is at present trying a recent improve. There was a transfer above the 50% Fib retracement stage of the downward transfer from the $26,887 swing excessive to the $26,412 low.
Bitcoin worth is now buying and selling above $26,500 and the 100 hourly Easy shifting common. There’s additionally a connecting bullish development line forming with assist close to $26,500 on the hourly chart of the BTC/USD pair.
Fast resistance on the upside is close to the $26,700 stage or the 61.8% Fib retracement stage of the downward transfer from the $26,887 swing excessive to the $26,412 low. The primary main resistance is close to the $26,850 stage. The following key resistance may very well be close to the $27,000 stage.
Supply: BTCUSD on TradingView.com
A profitable shut above the $26,850 resistance and $27,200 may spark one other bullish wave. The following main resistance is close to $27,500, above which the bulls may acquire power. Within the said case, the worth may check the $28,500 stage.
One other Drop In BTC?
If Bitcoin fails to start out a recent improve above the $26,850 resistance, it may react to the draw back. Fast assist on the draw back is close to the $26,500 stage and the development line.
The following main assist is close to the $26,200 stage. A draw back break and shut under the $26,200 stage would possibly ship the worth towards the following assist at $25,650.
Hourly MACD – The MACD is now gaining tempo within the bullish zone.
Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now above the 50 stage.
Main Assist Ranges – $26,500, adopted by $26,200.
Main Resistance Ranges – $26,700, $26,850, and $27,000.