Tuesday, February 7, 2023
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
BitScoop
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • ANALYSIS
  • REGULATIONS
  • SCAM ALERT
CRYPTO MARKETCAP
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • ANALYSIS
  • REGULATIONS
  • SCAM ALERT
CRYPTO MARKETCAP
BitScoop
No Result
View All Result
Home Analysis

Bitcoin Value Stays Supported, $30.8K Holds The Key

by BitScoop
June 4, 2022
in Analysis
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter


Bitcoin remained in a constructive zone above $31,200 towards the US Greenback. BTC might appropriate decrease, however the bulls may stay energetic close to $30,800.

  • Bitcoin is displaying constructive indicators above the $30,500 and $31,000 resistance ranges.
  • The worth is now buying and selling above the $31,200 stage and the 100 hourly easy transferring common.
  • There’s a key bullish pattern line forming with assist close to $31,800 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
  • The pair might appropriate decrease and check the $31,000 and $30,800 assist ranges.

Bitcoin Value Faces Key Resistance

Bitcoin worth prolonged improve above the $31,000 zone. It even broke the $32,000 resistance on a few events, however the bears protected extra positive factors above $32,200.

The latest swing excessive was shaped close to $32,400 earlier than the worth began a draw back correction. There was a transfer beneath the $32,000 stage. The worth corrected and examined the 23.6% Fib retracement stage of the upward transfer from the $29,085 swing low to $32,400 excessive.

It’s now testing the $31,800 zone. There’s additionally a key bullish pattern line forming with assist close to $31,800 on the hourly chart of the BTC/USD pair. Bitcoin can also be effectively above the $31,200 stage and the 100 hourly easy transferring common.

Bitcoin Price

Supply: BTCUSD on TradingView.com

An instantaneous resistance on the upside is close to the $32,000 stage. The subsequent main resistance is close to the $32,200 and $32,400 ranges. A transparent transfer above the $32,400 resistance stage might begin one other improve. Within the said case, the worth might rise in the direction of the $32,500 resistance. The subsequent main resistance sits close to the $33,400 stage.

Dips Supported in BTC?

If bitcoin fails to clear the $32,400 resistance zone, it might begin a draw back correction. An instantaneous assist on the draw back is close to the $31,800 stage and the pattern line. A draw back break beneath the pattern line might ship the worth in the direction of the $30,800 assist.

The 50% Fib retracement stage of the upward transfer from the $29,085 swing low to $32,400 excessive can also be close to the $30,800 stage. Any extra positive factors may open the doorways for a transfer in the direction of the $30,000 assist.

Technical indicators:

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

Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is transferring decrease in the direction of the 50 stage.

Main Assist Ranges – $31,800, adopted by $30,800.

Main Resistance Ranges – $32,000, $32,200 and $32,400.



Source link

Related articles

Apecoin Price Prediction is Bullish, Can Metacade Rally Too?

February 6, 2023

Crypto Billionaires Lose Billions in Crypto Markets

February 6, 2023
Tags: 308KaltcoinsBitcoinbitcoin pricebitcoin updatesbitscoopcrypto newscrypto updatesHoldsKeylatest bitcoin newspriceRemainsSupported
Share76Tweet47
Previous Post

Grantee Roundup: May 2022 | Ethereum Foundation Blog

Next Post

BNB Chain roadmap to spice up decentralization, help dApps

Related Posts

Apecoin Price Prediction is Bullish, Can Metacade Rally Too?

by BitScoop
February 6, 2023
0

After a strong start to 2023, altcoin gems such as ApeCoin (APE) and Metacade (MCADE) now look ready to explode....

Crypto Billionaires Lose Billions in Crypto Markets

by BitScoop
February 6, 2023
0

Crypto billionaires are among those that have suffered the worst from the crypto crash of 2022, seeing billions of dollars...

Is Pi Network worth anything?

by BitScoop
February 3, 2023
0

Pi coin is one of the most popular and highly anticipated cryptocurrencies in the world. User metrics show that support...

Crypto price predictions: SUSHI, Immutable X, AGIX

by BitScoop
February 3, 2023
0

SushiSwap price jumped as volume and revenue in DEX platforms rose. Immutable X (IMX) did well after the launch of...

Crypto Gaming Arcade, Metacade, Has Potential to 10X in 2023! Here’s What You Need to Know

by BitScoop
February 2, 2023
0

Investors searching for potential gains in 2023 have been wowed by the news that Metacade’s initial presale stages have sold...

Load More
Next Post

BNB Chain roadmap to spice up decentralization, help dApps

Important XR Collaboration Occasions for Your Calendar in 2022

Leave a Reply Cancel reply

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

  • Trending
  • Comments
  • Latest

Filecoin Creator Protocol Labs Announces Layoffs Amid Crypto Winter and Economic Downturn – Bitcoin News

February 5, 2023

Celsius Floats Possibility of Debt Token to Repay Creditors; Secures Court Approval to Process Customer Withdrawals – Bitcoin News

January 25, 2023

Poland’s Consumer Protection Agency Opens Case Against Cryptocurrency Exchange – Exchanges Bitcoin News

January 15, 2023

FBI seizes $100,000 in cryptocurrency and NFTs

February 4, 2023

Neobank N26 Exapnds Crypto Trading to 5 New Countries

January 17, 2023

Recent Gains in Some Cryptocurrencies Caused by Short Covering

January 10, 2023

Crypto Bank Juno Resumes Services After Pause

February 7, 2023

The Market Has Decided a Recession Is Coming, Says Mad Money’s Jim Cramer – Economics Bitcoin News

February 7, 2023

Ark Invest Expects Bitcoin to Become a Multitrillion-Dollar Market — Predicts BTC Price Could Reach $1.48 Million – Markets and Prices Bitcoin News

February 7, 2023

Render Token (RNDR) Price Prediction: Is $2 Achievable For This Digital Asset?

February 6, 2023

Crypto Miner At Record Bitcoin Production, Bear Market Over?

February 6, 2023

How Checks VV Drove The Latest ‘Open Edition’ NFT Meta

February 6, 2023
Facebook Twitter LinkedIn Tumblr
BitScoop

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Bitscoop

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Bitscoop.
Bitscoop is not responsible for the content of external sites.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • ANALYSIS
  • REGULATIONS
  • SCAM ALERT

Copyright © 2022 - Bitscoop.
Bitscoop is not responsible for the content of external sites.