Bitcoin News Today – Headlines for March 10
发布时间：2020-03-11 09:14:49 发布人：TokenString
Bitcoin News Today – Bitcoin (BTC) is currently surging higher from the recent monthly low of $7,638 against the U.S. dollar. The price of the digital currency might correct higher towards the $8,200 hurdle zone, where the bears are likely to show up.
Bitcoin Starts a Slow but Steady Recovery
In the past couple of sessions, there was a sharp plunge in the price of Bitcoin (BTC) from well over the $8,200 marks against the US dollar. The price of the digital currency even broke below the $8k support mark and settled well below the 100 hourly simple moving average. Bitcoin (BTC) formed a new monthly low close to the $7,638 mark and the price is currently correcting higher.
It broke over the $7,800 and $7,850 hurdle points. More importantly, there was a break over the declining channel with a hurdle close to $7,800 on the one-hour chart of the BTC/USD trading pair. The BTC/USD pair is now trading slightly over the 23.6 percent Fibonacci retracement level of the previous swing from the high of $8,755 to the low of $7,638.
Bitcoin (BTC) Price Today – BTC / USD
#
Name
Price
24H %
1
Bitcoin(BTC)
$7,986.24
-0.06%
It seems like the digital currency is forming a rounding bottom pattern, which might ignite a near term recovery. The hurdle of the patter is close to the $7,980 and $8,000 mark. A successful break over the $8k hurdle point will likely push the price of the digital currency towards the key $8,200 hurdle point, where the bears are likely to show up.
The 50 percent Fibonacci retracement level of the previous swing from the high of $8,755 to the low of $7,638 is close to the $8,200 zone to act as key resistance for the digital currency. Hence, the price of the digital currency needs to break over the $8,200 mark to begin a fresh increase towards the $8,500 and $8,650 marks.
Will the Bulls Continue to Push Prices Higher?
Bitcoin (BTC) is facing two major hurdle points on the upside – $8k and $8,200. If the digital currency fails to break over any of those hurdle points, there is a chance that it would start a reversal trend and plunge below the $7,800 mark. On the downside, the immediate support of the coin is close to the $7,640 mark. If the bulls fail to hold gains over that level, the bears might push the price of the digital currency towards the major $7,500 support zone.
However, the digital currency is currently in the green, and a little more traction will see it over the $8k zone, which might trigger more buying interests.
Bitcoin News Today – Bitcoin (BTC) is currently surging higher from the recent monthly low of $7,638 against the U.S. dollar. The price of the digital currency might correct higher towards the $8,200 hurdle zone, where the bears are likely to show up.
Bitcoin Starts a Slow but Steady Recovery
In the past couple of sessions, there was a sharp plunge in the price of Bitcoin (BTC) from well over the $8,200 marks against the US dollar. The price of the digital currency even broke below the $8k support mark and settled well below the 100 hourly simple moving average. Bitcoin (BTC) formed a new monthly low close to the $7,638 mark and the price is currently correcting higher.
It broke over the $7,800 and $7,850 hurdle points. More importantly, there was a break over the declining channel with a hurdle close to $7,800 on the one-hour chart of the BTC/USD trading pair. The BTC/USD pair is now trading slightly over the 23.6 percent Fibonacci retracement level of the previous swing from the high of $8,755 to the low of $7,638.
Bitcoin (BTC) Price Today – BTC / USD
| # | Name | Price | 24H % |
|---|---|---|---|
| 1 |
|
$7,986.24 |
-0.06%
|
It seems like the digital currency is forming a rounding bottom pattern, which might ignite a near term recovery. The hurdle of the patter is close to the $7,980 and $8,000 mark. A successful break over the $8k hurdle point will likely push the price of the digital currency towards the key $8,200 hurdle point, where the bears are likely to show up.
The 50 percent Fibonacci retracement level of the previous swing from the high of $8,755 to the low of $7,638 is close to the $8,200 zone to act as key resistance for the digital currency. Hence, the price of the digital currency needs to break over the $8,200 mark to begin a fresh increase towards the $8,500 and $8,650 marks.
Will the Bulls Continue to Push Prices Higher?
Bitcoin (BTC) is facing two major hurdle points on the upside – $8k and $8,200. If the digital currency fails to break over any of those hurdle points, there is a chance that it would start a reversal trend and plunge below the $7,800 mark. On the downside, the immediate support of the coin is close to the $7,640 mark. If the bulls fail to hold gains over that level, the bears might push the price of the digital currency towards the major $7,500 support zone.
However, the digital currency is currently in the green, and a little more traction will see it over the $8k zone, which might trigger more buying interests.
