Bitcoin News Today – Headlines for March 11
发布时间：2020-03-12 09:34:27 发布人：TokenString
Bitcoin News Today – Bitcoin (BTC) is facing a major hurdle close to the $8,200 mark against the U.S. dollar. The digital currency seems stuck at the moment, and it might trade in a range for a couple of sessions before the next move.
Bitcoin Encounters Stiff Hurdle
Bitcoin (BTC) made a slight comeback yesterday, with signs of a near term recovery towards the $8,200 hurdle point against the US dollar. The price of the digital currency started an upwards move over the $8k and $8,100 marks. Nevertheless, the bulls failed to show up and push the price of the digital currency over the $8,180 and $8,200 hurdle points.
Bitcoin (BTC) formed a swing high close to the $8,165 mark and the price started a downtrend below the 100 hourly simple moving average. The digital currency plunged further and tested the $7,700 support mark. At the time of writing, the world’s largest digital currency by market cap seems to be trading in a contracting range beneath the $8k level.
Bitcoin (BTC) Price Today – BTC / USD
#
Name
Price
24H %
1
Bitcoin(BTC)
$7,856.32
-0.31%
The last swing high was close to the $8,034 before the price plunged below the 23.6 percent Fibonacci retracement level of the last swing from the low of $7,728 to the high of $8,034. On the downside, the immediate support for the coin is close to the $7,880 mark. It is close to the 50 percent Fibonacci retracement level of the previous swing from the low of $7,728 to the high of $8,034.
More importantly, there is a formation of a key contracting triangle with a hurdle close to $7,950 on the one-hour chart of the BTC/USD trading pair. If the digital currency gains a little traction in the near term, it could break over the $7,950 and $8k hurdle points. A successful break over those levels would pave the way for more gains towards the major $8,200 hurdle point in the near term. If the bulls show up and push the price of the digital currency over the $8,200 hurdle point, Bitcoin could experience a near term recovery towards the $8,500 and $8,600 hurdle points.
Bitcoin Still Has Strong Support on the Downside
If Bitcoin (BTC) fails to break over the $8k and $8,200 hurdle points, chances are it could start another downtrend in the near term. If this happens, the immediate support for the coin is close to the $7,640 mark. Below that level, Bitcoin could plunge towards the major support at $7,500. However, the bulls are more likely to show up before then and push prices higher.
Bitcoin News Today – Bitcoin (BTC) is facing a major hurdle close to the $8,200 mark against the U.S. dollar. The digital currency seems stuck at the moment, and it might trade in a range for a couple of sessions before the next move.
Bitcoin Encounters Stiff Hurdle
Bitcoin (BTC) made a slight comeback yesterday, with signs of a near term recovery towards the $8,200 hurdle point against the US dollar. The price of the digital currency started an upwards move over the $8k and $8,100 marks. Nevertheless, the bulls failed to show up and push the price of the digital currency over the $8,180 and $8,200 hurdle points.
Bitcoin (BTC) formed a swing high close to the $8,165 mark and the price started a downtrend below the 100 hourly simple moving average. The digital currency plunged further and tested the $7,700 support mark. At the time of writing, the world’s largest digital currency by market cap seems to be trading in a contracting range beneath the $8k level.
Bitcoin (BTC) Price Today – BTC / USD
| # | Name | Price | 24H % |
|---|---|---|---|
| 1 |
|
$7,856.32 |
-0.31%
|
The last swing high was close to the $8,034 before the price plunged below the 23.6 percent Fibonacci retracement level of the last swing from the low of $7,728 to the high of $8,034. On the downside, the immediate support for the coin is close to the $7,880 mark. It is close to the 50 percent Fibonacci retracement level of the previous swing from the low of $7,728 to the high of $8,034.
More importantly, there is a formation of a key contracting triangle with a hurdle close to $7,950 on the one-hour chart of the BTC/USD trading pair. If the digital currency gains a little traction in the near term, it could break over the $7,950 and $8k hurdle points. A successful break over those levels would pave the way for more gains towards the major $8,200 hurdle point in the near term. If the bulls show up and push the price of the digital currency over the $8,200 hurdle point, Bitcoin could experience a near term recovery towards the $8,500 and $8,600 hurdle points.
Bitcoin Still Has Strong Support on the Downside
If Bitcoin (BTC) fails to break over the $8k and $8,200 hurdle points, chances are it could start another downtrend in the near term. If this happens, the immediate support for the coin is close to the $7,640 mark. Below that level, Bitcoin could plunge towards the major support at $7,500. However, the bulls are more likely to show up before then and push prices higher.
