Bitcoin price observation: BTC buyers can continue to rally?

key point

Bitcoin prices rebounded well above $$3380 and $3460 resistance. In BTC / h USD money on the map there is a short-term contraction triangle support $3480 (data feeds from Kraken). Before the new rising action, prices may fall to $3400 or $3355. The price of bitcoin dollar exchange rate rose more than $3550, or more than $1050. BTC is currently down, but may get support in the vicinity of $3400 or $3355.

Bitcoin price analysis

Yesterday, we discussed the price of bitcoin may exceed $3300 to rise further against the dollar. BTC / USD currency to really go high, exceeded $3355, $3400 and $3500 resistance. The price of $3589, far higher than the simple moving average of 100 hours. The current price trend shows that short-term downward revision to $3400.

The current price retracement level near the transaction in the recent 23.6% Fibonacci, from the lows of $3119 to a high of $3589. In addition, there is a short-term contraction triangle support at BTC / USD on the hourly chart of $3480. The pair may break the triangle support and support fell to 3400 U.S. dollars. However, if $3400 failed to hold, there may be in the $3355 support level fell more. The recent 50% Fibonacci low from $3119 to $3589 highs retracement is close to $3355. Therefore, the current level of decline may offer around $3400 or $3355.

Look at the chart, bitcoin prices well above $3305 is located in the area of fulcrum and 100SMA. From the point of view, the level of $3580 is an initial resistance, then $3600. The key obstacle of large rebound is close to $4000, higher than the price of the seller may lose control.

See technical indicators:

MACD per hour – BTC / USD MACD in the region fell slightly bearish.

RSI per hour (RSI) – RSI is to 50 level correction.

The main support level – $3355

The main resistance – $3580

This article is for reference only, do not do business on the basis of! Reprinted from NEWSBTC.

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