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Bitcoin Price Analysis: BTC At Risk Of More Losses Below $3,300

Bitcoin Price Analysis: BTC At Risk Of More Losses Below $3,300

BTC Casino / 11th December 2018

Key Points

Financial Injection by China: $83 Billion to Counter Economic Decline
Tuesday January 22, 2019

It’s no secret to anyone that despite the record growth in GDP, China is facing some issues.  The last few years have been quite challenging and on January 16th, the […]

The post Financial Injection by China: $83 Billion to Counter Economic Decline appeared first on BTC Casino Gambling.

Bitcoin price topped near the $3,645 level and later declined against the US Dollar.
There is a major bullish trend line formed with support at $3,355 on the hourly chart of the BTC/USD pair (data feed from Coinbase).
The price is likely to extend the current decline below the $3,350 and $3,300 levels.

Lubin’s Blockchain Firm Purchases American Mining Company
Thursday November 01, 2018

The blockchain firm that was established by Ethereum’s co-developer, Joseph Lubin, has moved on to purchase Planetary Resources Inc., an American asteroid mining firm. An October 31 publishing stated that […]

The post Lubin’s Blockchain Firm Purchases American Mining Company appeared first on BTC Casino Gambling.

Bitcoin price is under pressure below $3,480 against the US Dollar. BTC is likely to break the $3,350-3,355 support for an extend decline to $3,260.
Bitcoin Price Analysis
After forming a support near the $3,260 level, bitcoin price climbed higher recently against the US Dollar. The BTC/USD pair traded above the $3,500 and $3,600 resistance levels. However, buyers struggled near the $3,640-45 zone. A high was formed near $3,645 and later the price declined. It moved down sharply and traded below the $3,600 and $3,550 support levels. There was even a close below the $3,500 level and the 55 hourly simple moving average.
Sellers pushed the price below the 61.8% Fib retracement level of the last wave from the $3,260 low to $3,644 high. At the moment, the price is trading near the key $3,350-55 support area. There is also a major bullish trend line formed with support at $3,355 on the hourly chart of the BTC/USD pair. The 76.4% Fib retracement level of the last wave from the $3,260 low to $3,644 high is at $3,351. Therefore, if there is a downside break below $3,350, the price is likely to decline sharply towards $3,260. Any further losses could take the price towards $3,200.

Looking at the chart, bitcoin price remains at a risk of more losses if sellers gain pace below $3,350. On the upside, the main resistance is near the $3,450 level, 55 SMA, and a bearish trend line.
Looking at the technical indicators:
Hourly MACD – The MACD for BTC/USD is placed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI is well below the 50 level.
Key Support Level – $3,350
Key Resistance Level – $3,450
The post Bitcoin Price Analysis: BTC At Risk Of More Losses Below $3,300 appeared first on Live Bitcoin News.

Coinbase Offers Venezuelans Crypto for Christmas
Wednesday December 12, 2018

Popular U.S. cryptocurrency exchange Coinbase is showing its charitable side by donating cryptocurrency to over 300 people in Venezuela. Tis the Season for Crypto To get ready for the holiday […]

The post Coinbase Offers Venezuelans Crypto for Christmas appeared first on BTC Casino Gambling.

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