CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
NewsBTC 2024-12-20 02:48:20

Bitcoin Decline Continues: Are Bulls Losing Control?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone. The price is trading below $102,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $98,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $95,500 support zone. Bitcoin Price Dips Further Bitcoin price failed to start another increase and extended losses below the $102,000 zone. BTC gained bearish momentum below the $100,000 and $98,000 levels. The price even spiked below $96,500. A low was formed at $95,586 and the price is now consolidating losses. There is also a key bearish trend line forming with resistance at $98,500 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below $102,000 and the 100 hourly Simple moving average . On the upside, the price could face resistance near the $98,500 level. It is close to the 23.6% Fib retracement level of the downward move from the $108,295 swing high to the $95,586 low. The first key resistance is near the $100,000 level. A clear move above the $100,000 resistance might send the price higher. The next key resistance could be $102,000. A close above the $102,000 resistance might send the price further higher. In the stated case, the price could rise and test the $103,400 resistance level or the 61.8% Fib retracement level of the downward move from the $108,295 swing high to the $95,586 low. Any more gains might send the price toward the $105,000 level. More Downsides In BTC? If Bitcoin fails to rise above the $98,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $96,200 level. The first major support is near the $95,500 level. The next support is now near the $93,200 zone. Any more losses might send the price toward the $92,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $95,500, followed by $93,200. Major Resistance Levels – $98,500 and $100,000.

Loe lahtiütlusest : Kogu meie veebisaidi, hüperlingitud saitide, seotud rakenduste, foorumite, ajaveebide, sotsiaalmeediakontode ja muude platvormide ("Sait") siin esitatud sisu on mõeldud ainult teie üldiseks teabeks, mis on hangitud kolmandate isikute allikatest. Me ei anna meie sisu osas mingeid garantiisid, sealhulgas täpsust ja ajakohastust, kuid mitte ainult. Ükski meie poolt pakutava sisu osa ei kujuta endast finantsnõustamist, õigusnõustamist ega muud nõustamist, mis on mõeldud teie konkreetseks toetumiseks mis tahes eesmärgil. Mis tahes kasutamine või sõltuvus meie sisust on ainuüksi omal vastutusel ja omal äranägemisel. Enne nende kasutamist peate oma teadustööd läbi viima, analüüsima ja kontrollima oma sisu. Kauplemine on väga riskantne tegevus, mis võib põhjustada suuri kahjusid, palun konsulteerige enne oma otsuse langetamist oma finantsnõustajaga. Meie saidi sisu ei tohi olla pakkumine ega pakkumine