Bitcoin Price Analysis: BTC At Risk Of More Losses Below $3,300BTC Casino / 11th December 2018
Max Keiser Interview: Buy Bitcoin, ‘Leave Alts to Dickheads Like Jamie Dimon’
Wednesday December 12, 2018
Max Keiser once again shared his thoughts with Bitcoinist on the latest happenings in France, how Russia may use Bitcoin for its strategic reserves, and why Bitcoin is king while […]
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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.
CBDCs: Will Central Bank Digital Currencies Shape the Future
Monday December 10, 2018
In the earliest days of crypto, banks and governments instantly discarded any talks about central bank digital currencies (CBDCs). As time went on, talks slowly began but unfortunately, had almost […]
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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
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KuCoin Crypto Exchange Proudly Announcing the Listing DAI Stablecoin and Maker (MKR)
Monday December 10, 2018
KuCoin blockchain asset today is proudly announcing the listing of another Stablecoin, DAI, and the ERC-20 token, Maker (MKR). Deposits on both are now available utilizing KuCoin website and to […]
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