Bitcoin News Today – Headlines for January 1
发布时间：2020-01-02 14:08:20 发布人：TokenString
Bitcoin News Today – Bitcoin (BTC) starts 2020 with a bearish bias. Bitcoin is down in the red, carrying most of the altcoins in the market along. The digital currency is struggling to hold key supports against the USD. BTC is still at risk of further downtrends, and it might test the $7k and $6,880 support levels before a decent upward movement.
Bitcoin (BTC) Price Analysis
Over the past few hours, the price of Bitcoin (BTC) has been on a continuous downward trend below the $7,320 support level. Besides, Bitcoin settled below the $7,320 and the 100-hourly simple moving average. The recent downtrend pushed the price of the digital currency below the $7,200 and $7,150 support levels.
Bitcoin (BTC) Price Today – BTC / USD
#
Name
Price
24H %
1
Bitcoin(BTC)
$7,246.56
-1.21%
Bitcoin (BTC) formed a new weekly low close to the $7,100 mark and the price of the digital currency is currently correcting over the $7,150 mark. Moreover, there was a break over the major bearish trendline with hurdles close to the $7,185 mark on the hourly chart of BTC against the USD. The digital currency is now trading close to the 23.6 percent Fibonacci retracement level of the previous swing from the high of $7,531 to the low of $7,109.
It appears like there is a formation of a near-term ascending channel with resistance close to the $7,250 mark. The firm major resistance is close to the $7,275 mark and the 100-hourly simple moving average. If the digital currency successfully breaks over the $7,320 resistance level, it might record more gains and set the pace for a strong upward move.
If that happens, the price of the digital currency might rise towards the $7,400 and $7,500 resistance levels. On the other hand, the price of the digital currency might fail to break over the $7,275 and $7,320 resistance levels.
In this bearish case, Bitcoin (BTC) might continue its downward movement and plunge below the $7,150 support level. The immediate support of the digital currency is close to the $7,100 mark. Below that level, the next support is at the $7k level. If the digital currency breaks below that level, then $6,880 might prevent further losses.
Bitcoin Is Showing Bearish Signs
Looking at the BTC/USD chart, the price of BTC is showing bearish signs below the $7,320 mark and the 100-hourly simple moving average. Hence, there are possibilities that the digital currency will incur more losses this week, except it manages to pull over the $7,320 resistance in the near term. However, the long-term outlook of the coin is bullish, as this year, 2020, has a lot in store for Bitcoin (BTC).
Bitcoin News Today – Bitcoin (BTC) starts 2020 with a bearish bias. Bitcoin is down in the red, carrying most of the altcoins in the market along. The digital currency is struggling to hold key supports against the USD. BTC is still at risk of further downtrends, and it might test the $7k and $6,880 support levels before a decent upward movement.
Bitcoin (BTC) Price Analysis
Over the past few hours, the price of Bitcoin (BTC) has been on a continuous downward trend below the $7,320 support level. Besides, Bitcoin settled below the $7,320 and the 100-hourly simple moving average. The recent downtrend pushed the price of the digital currency below the $7,200 and $7,150 support levels.
Bitcoin (BTC) Price Today – BTC / USD
| # | Name | Price | 24H % |
|---|---|---|---|
| 1 |
|
$7,246.56 |
-1.21%
|
Bitcoin (BTC) formed a new weekly low close to the $7,100 mark and the price of the digital currency is currently correcting over the $7,150 mark. Moreover, there was a break over the major bearish trendline with hurdles close to the $7,185 mark on the hourly chart of BTC against the USD. The digital currency is now trading close to the 23.6 percent Fibonacci retracement level of the previous swing from the high of $7,531 to the low of $7,109.
It appears like there is a formation of a near-term ascending channel with resistance close to the $7,250 mark. The firm major resistance is close to the $7,275 mark and the 100-hourly simple moving average. If the digital currency successfully breaks over the $7,320 resistance level, it might record more gains and set the pace for a strong upward move.
If that happens, the price of the digital currency might rise towards the $7,400 and $7,500 resistance levels. On the other hand, the price of the digital currency might fail to break over the $7,275 and $7,320 resistance levels.
In this bearish case, Bitcoin (BTC) might continue its downward movement and plunge below the $7,150 support level. The immediate support of the digital currency is close to the $7,100 mark. Below that level, the next support is at the $7k level. If the digital currency breaks below that level, then $6,880 might prevent further losses.
Bitcoin Is Showing Bearish Signs
Looking at the BTC/USD chart, the price of BTC is showing bearish signs below the $7,320 mark and the 100-hourly simple moving average. Hence, there are possibilities that the digital currency will incur more losses this week, except it manages to pull over the $7,320 resistance in the near term. However, the long-term outlook of the coin is bullish, as this year, 2020, has a lot in store for Bitcoin (BTC).
