Bitcoin News Today – Headlines for December 25
发布时间：2019-12-26 14:07:33 发布人：TokenString
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Bitcoin is struggling to prevent breaking below the $7k level
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BTC needs to break over the $7,500 mark to start a strong upward move
Bitcoin News Today – Bitcoin (BTC) recently experienced a sharp U-turn that sent the price of the digital currency towards the $8k level. However, the digital currency topped out close to the $7,800 mark before it corrected lower. At the moment, the world’s largest digital currency by market cap is showing some bearish signs below the $7,400 mark against the US dollar. Bitcoin is trading slightly over the $7,100 level, with major support at the $7k level.
Bitcoin Price Analysis
Yesterday, the price of Bitcoin (BTC) corrected from the $7,700 resistance level against the US dollar. The digital currency continued its downtrend and plunged to the $7,400 and $7,300 support levels. The price of BTC struggled to remain over the $7,260 support level and the 100 hourly simple moving average. This move paved the way for more losses and BTC price traded close to the $7,160 support level.
Bitcoin (BTC) Price Today – BTC / USD
#
Name
Price
24H %
1
Bitcoin(BTC)
$7,186.89
-0.69%
Bitcoin (BTC) even formed a low close to the $7,150 mark before it corrected higher a bit. It appears that there is a formation of a short-term contracting triangle with resistance close to the $7,240 on the hourly chart of Bitcoin (BTC) against the US dollar. Moreover, the 23.6 percent Fibonacci retracement level of the previous swing from the high of $7,689 to the low of $7,159 is close to the $7,284 mark.
More importantly, the 100-hourly simple moving average is positioned close to the $7,300 mark. As such, a successful close over the $7,240 and $7,340 levels might trigger a decent upward movement. The next major resistance of the digital currency is close to the $7,400 mark or the 50 percent Fib retracement level of the previous swing from the high of $7,689 to the low of $7,159.
BTC Needs to Break Over $7,500 to Begin a Strong Upward Move
Furthermore, there is a key connecting bearish trendline forming with resistance close to the $7,480 on the same chart. To begin a strong upward move, the price of BTC must settle over the $7,400 and $7,500 resistance levels. After those levels, the next major resistance level of BTC is close to the $7,700 mark. A break over this level might pave the way for more gains towards the $8k resistance level.
On the downside, the price of the digital currency could plunge below the $7,160 and $7,120 support levels. If the bears gain momentum below the $7,120 mark, there is a high possibility that BTC might plunge below the $7k support area. If that happens, the price of Bitcoin (BTC) could return to the $6,600 area.
- Bitcoin is struggling to prevent breaking below the $7k level
- BTC needs to break over the $7,500 mark to start a strong upward move
Bitcoin News Today – Bitcoin (BTC) recently experienced a sharp U-turn that sent the price of the digital currency towards the $8k level. However, the digital currency topped out close to the $7,800 mark before it corrected lower. At the moment, the world’s largest digital currency by market cap is showing some bearish signs below the $7,400 mark against the US dollar. Bitcoin is trading slightly over the $7,100 level, with major support at the $7k level.
Bitcoin Price Analysis
Yesterday, the price of Bitcoin (BTC) corrected from the $7,700 resistance level against the US dollar. The digital currency continued its downtrend and plunged to the $7,400 and $7,300 support levels. The price of BTC struggled to remain over the $7,260 support level and the 100 hourly simple moving average. This move paved the way for more losses and BTC price traded close to the $7,160 support level.
Bitcoin (BTC) Price Today – BTC / USD
| # | Name | Price | 24H % |
|---|---|---|---|
| 1 |
|
$7,186.89 |
-0.69%
|
Bitcoin (BTC) even formed a low close to the $7,150 mark before it corrected higher a bit. It appears that there is a formation of a short-term contracting triangle with resistance close to the $7,240 on the hourly chart of Bitcoin (BTC) against the US dollar. Moreover, the 23.6 percent Fibonacci retracement level of the previous swing from the high of $7,689 to the low of $7,159 is close to the $7,284 mark.
More importantly, the 100-hourly simple moving average is positioned close to the $7,300 mark. As such, a successful close over the $7,240 and $7,340 levels might trigger a decent upward movement. The next major resistance of the digital currency is close to the $7,400 mark or the 50 percent Fib retracement level of the previous swing from the high of $7,689 to the low of $7,159.
BTC Needs to Break Over $7,500 to Begin a Strong Upward Move
Furthermore, there is a key connecting bearish trendline forming with resistance close to the $7,480 on the same chart. To begin a strong upward move, the price of BTC must settle over the $7,400 and $7,500 resistance levels. After those levels, the next major resistance level of BTC is close to the $7,700 mark. A break over this level might pave the way for more gains towards the $8k resistance level.
On the downside, the price of the digital currency could plunge below the $7,160 and $7,120 support levels. If the bears gain momentum below the $7,120 mark, there is a high possibility that BTC might plunge below the $7k support area. If that happens, the price of Bitcoin (BTC) could return to the $6,600 area.
