• Home
  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • More
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Book
    • Bitcoin Miner
    • Bitcoin Standard
    • Bitcoin Miner Machine
    • Bitcoin Merch
    • Bitcoin Wallet
    • Bitcoin Shirt
No Result
View All Result
Card Bitcoin
Shop
Card Bitcoin
No Result
View All Result
Home Market & Analysis

Bitcoin Price Rebounds, But Could the Downtrend Return?

n70products by n70products
September 9, 2024
in Market & Analysis
0
Bitcoin Price Rebounds, But Could the Downtrend Return?
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter



Este artículo también está disponible en español.

Bitcoin value remained supported close to the $52,500 zone. BTC is recovering losses and dealing with hurdles close to the $55,200 and $55,500 ranges.

  • Bitcoin is struggling to get well above the $55,500 zone.
  • The value is buying and selling beneath $55,200 and the 100 hourly Easy shifting common.
  • There’s a key bearish development line forming with resistance at $55,200 on the hourly chart of the BTC/USD pair (information feed from Kraken).
  • The pair might battle to get well above the $55,500 or $56,000 resistance ranges within the close to time period.

Bitcoin Value Goals Restoration

Bitcoin value remained in a bearish zone and prolonged losses beneath the $55,500 help zone. BTC even declined beneath the $53,200 stage. It examined the $52,500 zone. A low was fashioned at $52,569 and the worth is now trying a restoration wave.

There was a transfer above the $53,200 and $54,000 resistance ranges. It cleared the 23.6% Fib retracement stage of the downward transfer from the $58,508 swing excessive to the $52,569 low. Nonetheless, the worth is now struggling to get well above the $55,500 zone.

Bitcoin is now buying and selling beneath $55,200 and the 100 hourly Simple moving average. On the upside, the worth might face resistance close to the $55,200 stage. There may be additionally a key bearish development line forming with resistance at $55,200 on the hourly chart of the BTC/USD pair.

The development line is near the 50% Fib retracement stage of the downward transfer from the $58,508 swing excessive to the $52,569 low. The primary key resistance is close to the $55,500 stage. A transparent transfer above the $55,500 resistance may ship the worth additional larger within the coming periods.

Bitcoin Price
Supply: BTCUSD on TradingView.com

The following key resistance might be $56,200. An in depth above the $56,200 resistance may spark extra upsides. Within the said case, the worth might rise and take a look at the $57,500 resistance.

One other Decline In BTC?

If Bitcoin fails to rise above the $55,500 resistance zone, it might begin one other decline. Fast help on the draw back is close to the $54,000 stage.

The primary main help is $53,200. The following help is now close to the $52,500 zone. Any extra losses may ship the worth towards the $51,800 help within the close to time period.

Technical indicators:

Hourly MACD – The MACD is now shedding tempo within the bullish zone.

Hourly RSI (Relative Power Index) – The RSI for BTC/USD is now above the 50 stage.

Main Assist Ranges – $54,000, adopted by $53,200.

Main Resistance Ranges – $55,200, and $55,500.



Source link

Tags: BitcoinDowntrendPriceReboundsReturn
Previous Post

Ethereum Slips To $2,350 As Whale Deposits Exceed $751 Mil

Next Post

US Authorities Attempting To Access Imprisoned Binance Employee in Nigeria: Report

Next Post
US Authorities Attempting To Access Imprisoned Binance Employee in Nigeria: Report

US Authorities Attempting To Access Imprisoned Binance Employee in Nigeria: Report

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Product categories

  • Bitcoin Book
  • Bitcoin Coin
  • Bitcoin Hat
  • Bitcoin Merch
  • Bitcoin Miner
  • Bitcoin Miner Machine
  • Bitcoin Shirt
  • Bitcoin Standard
  • Bitcoin Wallet
  • Products
  • Uncategorized

Related News

NAYG lawsuit against Galaxy was ‘lawfare, pure and simple’ — Scaramucci

NAYG lawsuit against Galaxy was ‘lawfare, pure and simple’ — Scaramucci

March 29, 2025
XRP Price Rejected at Resistance—Are Bears Taking Control?

XRP Price Rejected at Resistance—Are Bears Taking Control?

March 27, 2025
The Altcoins Resisting Bitcoin’s Price Downturn Could Lead the Next Rally, Says Analyst – Here Are His Top Picks

The Altcoins Resisting Bitcoin’s Price Downturn Could Lead the Next Rally, Says Analyst – Here Are His Top Picks

March 1, 2025

Recents

Vive le Bitcoin! French Football Giant Embraces BTC as Treasury Reserve

Vive le Bitcoin! French Football Giant Embraces BTC as Treasury Reserve

June 1, 2025
US Authorities Charge Six Individuals in Connection to Alleged $66,000,000 Food Stamp Fraud Scheme

US Authorities Charge Six Individuals in Connection to Alleged $66,000,000 Food Stamp Fraud Scheme

June 1, 2025
XRP Set For Price Relief, But Only If Bulls Defend Key $2.13 Price Level

XRP Set For Price Relief, But Only If Bulls Defend Key $2.13 Price Level

June 1, 2025

CATEGORIES

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • NFTs
  • Regulations
  • XRP

BROWSE BY TAG

Altcoin ALTCOINS Analyst Binance Bitcoin Bitcoins Blog Breakout BTC Bullish Bulls Coinbase Crash Crypto DOGE Dogecoin ETF ETH Ethereum Foundation Heres high hits Key Level Major Market Memecoin Move Outlook Predicts Price Rally Report SEC Solana Support Surge Target Top Trader Trump Updates Whales XRP

© 2024 Card Bitcoin | All Rights Reserved

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • More
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Book
    • Bitcoin Miner
    • Bitcoin Standard
    • Bitcoin Miner Machine
    • Bitcoin Merch
    • Bitcoin Wallet
    • Bitcoin Shirt

© 2024 Card Bitcoin | All Rights Reserved

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version