Bitcoin News Today – Headlines for March 17
发布时间：2020-03-18 09:14:09 发布人：TokenString
Bitcoin News Today – Bitcoin (BTC) is currently surging higher and it is showing some positive signs from the swing low of $4,350 against the U.S. dollar. The price of the digital currency is likely to surge higher towards the $6k level if it settles over the 100 hourly simple moving average.
Bitcoin Needs to Break Over the 100 SMA to Start a Fresh Rally
Yesterday, Bitcoin (BTC) formed a strong double top close to the $6k hurdle point against the U.S. dollar. The price of the digital currency remained in a bearish area and plunged beneath the $5,200 and $5k support marks. The digital currency even plunged below the neckline support and settled below the 100 hourly simple moving average.
Finally, Bitcoin (BTC) declined beneath the $4,500 support mark and tested a low of $4,354. BTC is presently correcting higher and it is trading slightly over the $5k hurdle point. The digital currency also broke over the 50 percent Fibonacci retracement level of the previous swing from the high of $5,986 to the low of $4,354.
Bitcoin (BTC) Price Today – BTC / USD
#
Name
Price
24H %
1
Bitcoin(BTC)
$5,373.74
4.59%
The digital currency is showing some positive actions but it seems to be encountering resistance close to the $5,300 zone and the 100 hourly simple moving average. More importantly, there is a formation of a major bearish trendline with a hurdle close to the $5,350 mark on the one-hour chart of the BTC/USD trading pair. The 61.8 percent Fibonacci retracement level of the previous swing from the high of $5,986 to the low of $4,354 is also acting as a hurdle.
If Bitcoin (BTC) successfully breaks over the $5,350 hurdle point and the 100 hourly simple moving average, the price is likely to continue surging higher. On the upside, the immediate hurdle of the digital currency is close to the $5,600 mark, over which the digital currency is likely to surge higher towards the $5,980 and $6k hurdle points. A break over the $6k hurdle point will pave the way for more gains towards the $6,500 mark.
What If the Bulls Fail to Show Up?
If the price of the digital currency fails to break over the $5,350 hurdle point and the 100 hourly simple moving average, it is likely to resume its downtrend. If that happens, the initial support of the digital currency is close to the $5,050 and $5k marks. A break below the $5k support mark could increase the pressure on the bears and push the price of the digital currency towards the $4,500 mark.
Bitcoin News Today – Bitcoin (BTC) is currently surging higher and it is showing some positive signs from the swing low of $4,350 against the U.S. dollar. The price of the digital currency is likely to surge higher towards the $6k level if it settles over the 100 hourly simple moving average.
Bitcoin Needs to Break Over the 100 SMA to Start a Fresh Rally
Yesterday, Bitcoin (BTC) formed a strong double top close to the $6k hurdle point against the U.S. dollar. The price of the digital currency remained in a bearish area and plunged beneath the $5,200 and $5k support marks. The digital currency even plunged below the neckline support and settled below the 100 hourly simple moving average.
Finally, Bitcoin (BTC) declined beneath the $4,500 support mark and tested a low of $4,354. BTC is presently correcting higher and it is trading slightly over the $5k hurdle point. The digital currency also broke over the 50 percent Fibonacci retracement level of the previous swing from the high of $5,986 to the low of $4,354.
Bitcoin (BTC) Price Today – BTC / USD
| # | Name | Price | 24H % |
|---|---|---|---|
| 1 |
|
$5,373.74 |
4.59%
|
The digital currency is showing some positive actions but it seems to be encountering resistance close to the $5,300 zone and the 100 hourly simple moving average. More importantly, there is a formation of a major bearish trendline with a hurdle close to the $5,350 mark on the one-hour chart of the BTC/USD trading pair. The 61.8 percent Fibonacci retracement level of the previous swing from the high of $5,986 to the low of $4,354 is also acting as a hurdle.
If Bitcoin (BTC) successfully breaks over the $5,350 hurdle point and the 100 hourly simple moving average, the price is likely to continue surging higher. On the upside, the immediate hurdle of the digital currency is close to the $5,600 mark, over which the digital currency is likely to surge higher towards the $5,980 and $6k hurdle points. A break over the $6k hurdle point will pave the way for more gains towards the $6,500 mark.
What If the Bulls Fail to Show Up?
If the price of the digital currency fails to break over the $5,350 hurdle point and the 100 hourly simple moving average, it is likely to resume its downtrend. If that happens, the initial support of the digital currency is close to the $5,050 and $5k marks. A break below the $5k support mark could increase the pressure on the bears and push the price of the digital currency towards the $4,500 mark.
