Bitcoin Price Eyes Support at $3,000 as BTC/USD Sets New Yearly Low

The bitcoin price on Friday plunged 6.5 percent against the US Dollar, breaking below the flagship cryptocurrency’s previous yearly low at $3,455. The bearish cycle took another turn after the Securities and Exchange Commission (SEC) halted its decision on the VanEck’s upcoming bitcoin ETF once again. The fundamental has been treated as one of the strongest bullish catalysts for the bitcoin market, with many believing that its approval would bring a minimum of $1 billion investment into space. In case the US regulator disapproves it, the market sentiment would be…

Bitcoin Price Watch: BTC/USD Primed To Test $3,000

Key Points Bitcoin price declined further and broke the $3,550 and $3,420 support levels against the US Dollar. There is a major bearish trend line formed with resistance at $3,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to decline further and it may even test the $3,000 level in the near term. Bitcoin price declined heavily below $3,550 against the US Dollar. BTC/USD remains in a downtrend and it could even trade towards $3,000 or $2,800. Bitcoin Price Analysis After forming…

Bitcoin Price Watch: BTC/USD Bounce From Lows Could Fade Soon

Key Points Bitcoin price declined and broke the last swing low at $3,730 against the US Dollar. There are two crucial bearish trend lines in place with resistance at $3,850 and $3,900 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could face a solid resistance and it could decline back towards $3,730. Bitcoin price jumped back after trading towards $3,620 against the US Dollar. However, upsides remain capped near the $3,900 and buyers are likely to struggle. Bitcoin Price Analysis Recently, there was an…

Bitcoin Price Watch: BTC/USD Remains In Downtrend Below $4,020

Key Points Bitcoin price failed to break the $4,080 resistance level and declined recently against the US Dollar. Yesterday’s highlighted two key bearish trend lines are active with resistance near $4,000 and $4,090 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price remains in a major downtrend and it could extend losses below $3,800 in the near term. Bitcoin price is still in a bearish zone below $4,020 against the US Dollar. BTC/USD could accelerate losses once there is a break below the $3,740 support.…

Bitcoin Price Watch: BTC/USD Facing Major Resistance Near $4,150

Key Points Bitcoin price declined further below $3,900 and traded towards the $3,750 level against the US Dollar. There are two important bearish trend lines in place with resistance near $4,080 and $4,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to face a lot of offers near the $4,100-4,150 resistance area in the near term. Bitcoin price declined towards the $3,750 level against the US Dollar. BTC/USD is recovering, but it could find a strong resistance near $4,080 or $4,150. Bitcoin…

Bitcoin Price Watch: BTC/USD Remains Sell Near $4,200

Key Points Bitcoin price traded lower recently and broke the $4,120 support area against the US Dollar. There is a key bearish trend line in place with resistance at $4,180 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently trading above the $3,880 support, but it is at a risk of more losses. Bitcoin price failed to climb higher above $4,400 and declined against the US Dollar. BTC/USD remains sell on rallies near the $4,120 and $4,200 resistance levels. Bitcoin Price Analysis Recently,…

Bitcoin Price Weekly Analysis: BTC/USD Remains In Downtrend Below $4,500

Key Points Bitcoin price recovered recently and traded above the $4,000 and $4,200 levels against the US Dollar. There is a key bearish trend line formed with resistance at $4,320 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is likely to struggle to break the $4,320, $4,400, $4,500 and $4,590 resistance levels. Bitcoin price is slowly recovering above $4,000 against the US Dollar. However, BTC/USD remains in a downtrend as long as it is below the $4,500 resistance. Bitcoin Price Analysis This past week,…

Bitcoin Price Watch: BTC/USD Could Extend Correction Below $4,100

Key Points Bitcoin price struggled to break the $4,400-4,440 resistance and declined against the US Dollar. There was a break below yesterday’s bullish trend line with support at $4,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently at a risk of more losses below the $4,100 and $4,080 support levels. Bitcoin price formed a short term top near the $4,440 level and declined against the US Dollar. BTC/USD is likely to correct lower towards the $4,000 support in the near term. Bitcoin…

Bitcoin Price Watch: BTC/USD Turned Short Term Bullish

Key Points Bitcoin price climbed higher and broke the $4,080 and $4,200 resistance levels against the US Dollar. There is a short term bullish trend line formed with support at $4,050 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently trading nicely above the previous resistance (now support) at $4,080. Bitcoin price made a few nice bullish moves above $4,000 against the US Dollar. BTC/USD must stay above the $4,050 and $4,000 supports to resume its upward move. Bitcoin Price Analysis Yesterday, we…

Bitcoin Price Watch: BTC/USD Ran Into Resistance, More Gains Likely

Key Points Bitcoin price climbed higher recently and traded above the $3,800 resistance level against the US Dollar. This week’s crucial bearish trend line was breached with resistance at $3,830 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price ran into a major resistance area at $4,080, but there are chances of more gains. Bitcoin price gained traction and moved above $3,800 and $4,000 against the US Dollar. BTC/USD must break the $4,080 resistance level to trade further higher. Bitcoin Price Analysis Recently, there was…