• Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Wednesday, August 10, 2022
Online Crypto College
Advertisement
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading
No Result
View All Result
Online Crypto College
No Result
View All Result

Bitcoin Forms Bullish Pattern, Why BTC Could Accelerate Higher

June 6, 2022
in Bitcoin
Reading Time: 2 mins read
A A
ShareShareShareShareShare

Related articles

Uniswap Price Falls Below $9 After It Met With A Sell-Off, What’s Next?

August 10, 2022

Cleanspark Acquires Plug-in-Ready Bitcoin Mining Facility With up to 86 MW of Capacity – Mining Bitcoin News

August 9, 2022

Bitcoin remained well bid above the $29,350 support zone against the US Dollar. BTC started a fresh increase and cleared the $30,000 resistance zone.

  • Bitcoin started a recovery wave from the $29,350 support zone.
  • The price is now trading above the $30,000 level and the 100 hourly simple moving average.
  • There was a break above a major bearish trend line with resistance near $29,700 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could accelerate higher if it clears the $31,180 resistance zone.

Bitcoin Price Aims Higher

Bitcoin price remained well bid near the key $29,350 support zone. A base was formed near $29,350 and the price started a fresh increase. There was a clear move above the $29,800 and $30,000 resistance levels.

Besides, there was a break above a major bearish trend line with resistance near $29,700 on the hourly chart of the BTC/USD pair. The pair climbed above the $30,000 level and the 100 hourly simple moving average. There was a spike above the 50% Fib retracement level of the key decline from the $32,400 swing high to $29,255 low.

Bitcoin price is now consolidating near the $30,800 level. An immediate resistance on the upside is near the $31,180 level. It is near the 61.8% Fib retracement level of the key decline from the $32,400 swing high to $29,255 low.

Source: BTCUSD on TradingView.com

The next major resistance is near the $31,650 level. A clear move above the $31,650 resistance level could start another increase. In the stated case, the price could rise towards the $32,400 resistance. The next major resistance sits near the $33,000 level.

Dips Limited in BTC?

If bitcoin fails to clear the $31,180 resistance zone, it could a downside correction. An immediate support on the downside is near the $30,400 level.

The next major support is near the $29,950 level and the 100 hourly simple moving average. A downside break below the $29,950 support may perhaps spark another decline. In the stated case, the price could revisit the $29,350 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.

Major Support Levels – $30,400, followed by $29,950.

Major Resistance Levels – $31,180, $31,650 and $32,400.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Here’s a peek into Dogecoin Core v1.14.6

Next Post

Nigeria’s Regulatory ‘Crypto-twisting’ Fist | THISDAYLIVE

Related Posts

Uniswap Price Falls Below $9 After It Met With A Sell-Off, What’s Next?

August 10, 2022

Uniswap price at the current moment has displayed a downward movement on its chart. The coin lost the $9 price...

Cleanspark Acquires Plug-in-Ready Bitcoin Mining Facility With up to 86 MW of Capacity – Mining Bitcoin News

August 9, 2022

On Tuesday, the bitcoin mining company Cleanspark announced it acquired a plug-in-ready bitcoin mining facility that is scalable to 86...

What The Impending “Triple Halvening” Means For The Future Of Ethereum

August 9, 2022

The Ethereum Merge draws closer with each passing day, and the anticipation in the market is palpable. There are a...

Ethereum Investors Close 300k Long Positions on Bitfinex, Rally To Stop Soon?

August 9, 2022

Data shows around 300k in ETHUSD long positions have been closed on the Bitfinex Ethereum futures market, something that could...

These Are the Crypto Economy’s 5 Most Expensive Assets per Unit in August 2022 – Markets and Prices Bitcoin News

August 9, 2022

On July 18, 2021, Bitcoin.com News researched the top five most expensive crypto assets and at that time there were...

Load More
Next Post

Nigeria’s Regulatory ‘Crypto-twisting’ Fist | THISDAYLIVE

Leave a Reply Cancel reply

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

FTX-Backed PACs Expand the Crypto Lobby in Congress

August 5, 2022

Over 70K XRP holders are now a part of Ripple v. SEC lawsuit

August 8, 2022

Philippines Financial Watchdog warns public against investing with Binance

August 4, 2022

Ethereum Offshoots On Horizon As Crypto Miners Pushback

August 7, 2022

Crypto mixing service Tornado Cash blacklisted by Treasury Department

August 8, 2022

About Us

This is an online news portal that aims to provide the latest Crypto news, Altcoins, blockchain, regulations and much more stuff like that around the world. Feel free to get in touch with us!

What’s New Here!

  • Uniswap Price Falls Below $9 After It Met With A Sell-Off, What’s Next?
  • Iran Places First Official Import Order With Cryptocurrency Worth $10 Million – Regulation Bitcoin News
  • The future of social media and protecting user data in web3 w/ Lens Protocol and the Aave companies

Newsletter

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$22,917.00-4.22%
  • ethereumEthereum(ETH)$1,679.01-5.62%
  • tetherTether(USDT)$1.000.03%
  • usd-coinUSD Coin(USDC)$1.000.07%
  • binancecoinBNB(BNB)$318.03-2.66%
  • Binance USDBinance USD(BUSD)$1.00-0.09%
  • rippleXRP(XRP)$0.362134-4.14%
  • cardanoCardano(ADA)$0.51-4.30%
  • SolanaSolana(SOL)$39.65-7.22%
  • polkadotPolkadot(DOT)$8.68-6.31%
  • dogecoinDogecoin(DOGE)$0.068424-4.34%
  • AvalancheAvalanche(AVAX)$27.70-3.16%
  • daiDai(DAI)$1.000.05%
  • Lido Staked EtherLido Staked Ether(STETH)$1,619.56-5.73%
  • matic-networkPolygon(MATIC)$0.88-5.05%
  • tronTRON(TRX)$0.068631-2.67%
  • Shiba InuShiba Inu(SHIB)$0.000011-12.00%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$22,980.00-4.02%
  • ethereum-classicEthereum Classic(ETC)$37.05-2.89%
  • leo-tokenLEO Token(LEO)$4.942.67%
  • OKBOKB(OKB)$17.95-2.58%
  • litecoinLitecoin(LTC)$58.69-6.55%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.42-1.14%
  • FTXFTX(FTT)$29.44-6.59%
  • chainlinkChainlink(LINK)$8.43-3.50%
  • UniswapUniswap(UNI)$8.46-4.32%
  • CronosCronos(CRO)$0.144236-4.91%
  • cosmosCosmos Hub(ATOM)$10.84-11.23%
  • stellarStellar(XLM)$0.121022-2.15%
  • FlowFlow(FLOW)$2.93-4.97%
  • moneroMonero(XMR)$159.21-6.03%
  • bitcoin-cashBitcoin Cash(BCH)$133.73-7.28%
  • algorandAlgorand(ALGO)$0.343372-8.27%
  • vechainVeChain(VET)$0.029782-6.47%
  • ApeCoinApeCoin(APE)$6.84-8.08%
  • filecoinFilecoin(FIL)$8.05-8.49%
  • Internet ComputerInternet Computer(ICP)$7.78-6.92%
  • ChainChain(XCN)$0.0897960.96%
  • decentralandDecentraland(MANA)$1.02-7.40%
  • HederaHedera(HBAR)$0.074339-7.77%
  • The SandboxThe Sandbox(SAND)$1.28-6.61%
  • QuantQuant(QNT)$121.93-5.61%
  • tezosTezos(XTZ)$1.78-6.97%
  • Axie InfinityAxie Infinity(AXS)$17.61-6.18%
  • theta-tokenTheta Network(THETA)$1.52-7.82%
  • ElrondElrond(EGLD)$61.42-8.11%
  • FraxFrax(FRAX)$0.98-2.13%
  • AaveAave(AAVE)$97.60-5.13%
  • Lido DAOLido DAO(LDO)$2.27-2.98%
  • true-usdTrueUSD(TUSD)$1.00-0.04%