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VCTRADE, the new crypto exchange built by financial giant SBI Holdings, is finally open to all Japanese residents after months of delays.
VCTRADE, the new crypto exchange built by financial giant SBI Holdings, is finally open to all Japanese residents after months of delays.
Key Points Bitcoin price surged higher and broke a crucial resistance near $6,380 against the US Dollar. There is a new key bullish trend line forming with support at $6,480 on the hourly chart of the BTC/USD pair (data feed from Kraken). The BTC/USD pair is currently correcting lower, but it is likely to find…
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Bitcoin price surged above $6,700 against the US Dollar. BTC/USD is now placed in an uptrend with supports near $6,600 and $6,540 on the downside.
Bitcoin price settled above a key barrier at $6,300 against the US Dollar. It opened the doors for more gains and the BTC/USD pair surged above the $6,380 and $6,600 resistance levels. The upside move was such that the price even broke the $6,700 resistance. A high was formed at $6,749 and the price is currently correcting lower. On the downside, there are many supports starting with the $6,650 level.
The 23.6% Fib retracement level of the last wave from the $6,318 low to $6,749 high is positioned at $6,648 and is likely to hold declines. Should there be a break below $6,648, the price may perhaps trade towards the $6,600 support. More importantly, there is a new key bullish trend line forming with support at $6,480 on the hourly chart of the BTC/USD pair. The same trend line currently around the 50% Fib retracement level of the last wave from the $6,318 low to $6,749 high. Therefore, any major dips from the current levels are likely to find bids near $6,600 and $6,540.
Looking at the chart, the price clearly settled above $6,600 and the 100 hourly simple moving average. On the upside, a break above the $6,750 high could set the path for a move towards $7,000.
Looking at the technical indicators:
Hourly MACD – The MACD for BTC/USD is slowly moving back in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI is correcting lower from the overbought levels.
Major Support Level – $6,600
Major Resistance Level – $6,750
The post Bitcoin Price Watch: BTC/USD’s Trend Overwhelmingly Bullish appeared first on NewsBTC.
Key Highlights Ethereum classic price traded higher recently and moved above the $17.00 barrier against the US dollar. There is a crucial bullish trend line formed with support at $16.80 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is currently correcting lower, but it remains supported above the $16.80-17.00…
The post Ethereum Classic Price Analysis: ETC/USD Bullish Above $16.80 appeared first on NewsBTC.
Ethereum classic price moved into a bullish zone against the US Dollar and Bitcoin. ETC/USD dips remain supported near the $16.80 and $17.00 levels.
This week, there was a nice upside move initiated from the $16.00 swing low in ETC price against the US dollar. The ETC/USD pair traded above the $16.50 and $17.00 resistance levels to move into a bullish zone. It traded as high as $17.56 and is currently correcting lower. The price broke the 23.6% Fib retracement level of the last wave from the $16.51 low to $17.56 high.
However, there are many supports on the downside above the $16.50 level. An initial support sits around the $17.00 level. Below this, the price may test the 61.8% Fib retracement level of the last wave from the $16.51 low to $17.56 high. There is also a crucial bullish trend line formed with support at $16.80 on the hourly chart of the ETC/USD pair. The trend line support and the $16.85 area is significant since it coincides with the previous resistance area. Therefore, any dips towards the $16.80 and $16.85 levels are likely to find a strong buying interest in the near term.
The chart suggests that the price is placed nicely in an uptrend above the $16.50 pivot level. The recent dip can be seen as a buying opportunity as long as the trend line and $16.80 support are intact. On the upside, resistances are at $17.25, $17.50 and $17.80.
Hourly MACD – The MACD for ETC/USD is moving back in the bearish zone.
Hourly RSI – The RSI for ETC/USD just breached the 50 level.
Major Support Level – $16.80
Major Resistance Level – $17.50
The post Ethereum Classic Price Analysis: ETC/USD Bullish Above $16.80 appeared first on NewsBTC.