Bitcoin News Today – Headlines for October 27
发布时间：2019-10-28 14:33:54 发布人：TokenString
Bitcoin News Today – The past couple of days have been pretty bullish for Bitcoin (BTC) and the majority of digital currencies in the market. Bitcoin (BTC) and some other digital currencies displayed massive upward moves. Bitcoin broke over the long resistance at $8,500 and even surged higher. The digital currency is currently trimming gains after surging enormously against the USD. To begin a fresh increase, Bitcoin needs to remain over the $8,500 mark. If it fails to remain over that level, it could take a dive back to the $8k range.
Bitcoin Price Analysis – Will Bitcoin Continue Its Uptrend or Correct Lower?
Bitcoin News Today – Bitcoin recently plunged heavily below the $8,000 level. The digital currency also plunged below the $7,500 support level. The price of Bitcoin (BTC) surged by more than 20 percent and broke over several resistance levels close to $8,500 and $9,000. There was also a close over the $8,500 hurdle point and the 100 simple moving average on the 4-hour chart of the coin.
Bitcoin (BTC) Price Today – BTC / USD
#
Name
Price
24H %
1
Bitcoin(BTC)
$9,510.73
3.93%
The price of Bitcoin also surged over the $10k resistance level and traded close to the $10,600 mark. Nevertheless, the bulls failed to remain in charge and the digital currency formed a high close to the $9,600 mark. The digital currency later corrected heavily below the $10k level. Bitcoin traded below the 23.6 percent Fibonacci retracement level of the previous swing from the low of $7,425 to the high of $10,591.
The digital currency continued its downward trend, plunged below $9,500 level, and tested the $9k support area. It also appears that the 50 percent Fibonacci retracement level of the previous swing from the low of $7,425 to the high of $10,591 is presently acting as strong support.
Bitcoin Has Found a New Support Level
There is a formation of a short-term bullish trendline with support close to the $9,080 level on the 4-hour chart of the coin. If the digital currency breaks below that level, it could test the major support close to the $8,600 mark. The $8,600 and $8,500 marks are vital support levels since they acted as resistance previously. Hence, the $8,500 mark is likely to act as the major support for the digital currency. From the chart of the coin, it is obvious that the price of Bitcoin is trimming gains and it is heading to the crucial support close to the $9k level. There could be a reversal of the previous rally if BTC to USD price fails to remain over the $8,500 mark.
Bitcoin News Today – The past couple of days have been pretty bullish for Bitcoin (BTC) and the majority of digital currencies in the market. Bitcoin (BTC) and some other digital currencies displayed massive upward moves. Bitcoin broke over the long resistance at $8,500 and even surged higher. The digital currency is currently trimming gains after surging enormously against the USD. To begin a fresh increase, Bitcoin needs to remain over the $8,500 mark. If it fails to remain over that level, it could take a dive back to the $8k range.
Bitcoin Price Analysis – Will Bitcoin Continue Its Uptrend or Correct Lower?
Bitcoin News Today – Bitcoin recently plunged heavily below the $8,000 level. The digital currency also plunged below the $7,500 support level. The price of Bitcoin (BTC) surged by more than 20 percent and broke over several resistance levels close to $8,500 and $9,000. There was also a close over the $8,500 hurdle point and the 100 simple moving average on the 4-hour chart of the coin.
Bitcoin (BTC) Price Today – BTC / USD
| # | Name | Price | 24H % |
|---|---|---|---|
| 1 |
|
$9,510.73 |
3.93%
|
The price of Bitcoin also surged over the $10k resistance level and traded close to the $10,600 mark. Nevertheless, the bulls failed to remain in charge and the digital currency formed a high close to the $9,600 mark. The digital currency later corrected heavily below the $10k level. Bitcoin traded below the 23.6 percent Fibonacci retracement level of the previous swing from the low of $7,425 to the high of $10,591.
The digital currency continued its downward trend, plunged below $9,500 level, and tested the $9k support area. It also appears that the 50 percent Fibonacci retracement level of the previous swing from the low of $7,425 to the high of $10,591 is presently acting as strong support.
Bitcoin Has Found a New Support Level
There is a formation of a short-term bullish trendline with support close to the $9,080 level on the 4-hour chart of the coin. If the digital currency breaks below that level, it could test the major support close to the $8,600 mark. The $8,600 and $8,500 marks are vital support levels since they acted as resistance previously. Hence, the $8,500 mark is likely to act as the major support for the digital currency. From the chart of the coin, it is obvious that the price of Bitcoin is trimming gains and it is heading to the crucial support close to the $9k level. There could be a reversal of the previous rally if BTC to USD price fails to remain over the $8,500 mark.
