empty
 
 
29.11.2022 05:36 PM
Bitcoin bounces towards resistance trend line.

This image is no longer relevant

Green lines- Fibonacci retracements

Red downward sloping trend line- resistance

Bitcoin bounced higher today towards $16,550 but price got rejected when it reached the red downward sloping resistance trend line. After the FTX scandal sell off, Bitcoin bulls seem unable to stage a meaningful bounce higher. Price has managed to move mostly sideways in a trading range forming lower highs. Today's rejection at the red trend line confirms the importance of this line. A break above $16,550 would be an important sign of strength and we should then expect prices to move even higher towards the 38% Fibonacci retracement. As long as price remains below the red trend line, Bitcoin will remain vulnerable to another break down. Support remains key at $15,500.

EURUSD
Euro vs US Dollar
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    THAM GIA CUỘC THI
  • Tiền gửi lần truy cập
    Ký quỹ tài khoản của bạn với $3000 và nhận được $8000 nhiều hơn!
    Trong Tháng 3 chúng tôi xổ $8000 trong chiến dịch Chancy Deposit!
    Có được một cơ hội giành chiến thắng bằng việc ký quỹ $3000 vào một tài khoản giao dịch. Đáp ứng được điều kiện này, bạn trở thành một người tham gia chiến dịch.
    THAM GIA CUỘC THI
  • Giao dịch khôn ngoan, thành công
    Nạp tiền vào tài khoản của bạn với ít nhất $ 500, đăng ký cuộc thi và có cơ hội giành được các thiết bị di động.
    THAM GIA CUỘC THI
  • 100% tiền thưởng
    Cơ hội duy nhất của bạn để nhận 100% tiền thưởng khi gửi tiền
    NHẬN THƯỞNG
  • 55% Tiền thưởng
    Đăng ký tiền thưởng 55% cho mỗi lần gửi tiền của bạn
    NHẬN THƯỞNG
  • 30% tiền thưởng
    Nhận 30% tiền thưởng mỗi khi bạn nạp tiền vào tài khoản của mình
    NHẬN THƯỞNG

Recommended Stories

Raoul Pal: Bitcoin will grow to $50,000 in 2023

The image is considerably more powerful on the 4-hour TF. Over the past two weeks, the price of bitcoin has increased significantly and has easily surpassed its previous high

Paolo Greco 18:17 2023-03-27 UTC+2

Bitcoin analysis for March 27th, 2023.

Bitcoin is trading around $27,300. Over the last couple of sessions price has made no real progress to the upside or the downside. Price is trading mostly sideways inside

Alexandros Yfantis 16:40 2023-03-27 UTC+2

Bitcoin moved sideways amid a collapse in trading volumes: Is correction inevitable?

After a strong upside move last week, Bitcoin moved into a consolidation stage near the $28k level. This was facilitated by a sharp drop in trading activity

Artem Petrenko 12:53 2023-03-27 UTC+2

BTC update for March 27,.2023 - Tight range and potential for the breakout

Technical analysis: BTC/USD has been trading sideways at the price of $27.800 and I see potetnial for the breakout mode. Due to the strong upside cycle in the background

Petar Jacimovic 09:19 2023-03-27 UTC+2

Technical Analysis of ETH/USD for March 27, 2023

Crypto Industry News: The Venezuelan electricity supplier has shut down cryptocurrency mines across the country as part of a reorganization of the country's cryptography department and ongoing corruption investigations involving

Sebastian Seliga 08:57 2023-03-27 UTC+2

Technical Analysis of BTC/USD for March 27, 2023

Crypto Industry News: Nasdaq Inc. plans to start offering cryptocurrency storage services by the end of the second quarter of 2023. According to media reports yesterday, these plans were revealed

Sebastian Seliga 08:56 2023-03-27 UTC+2

XRPUSD retest of broken resistance at $0.43.

XRPUSD is trading around $0.45 above the broken resistance at $0.43. After a sharp move towards $0.49 price turned back to back test the broken resistance. Previous resistance

Alexandros Yfantis 12:52 2023-03-26 UTC+2

Bitcoin maintains balance after Fed meeting

Bitcoin has managed to rise to $29,000 over the past several days. BTC continues to hover near that level at this point. The technical situation has not changed

Paolo Greco 14:49 2023-03-24 UTC+2

Bitcoin at $1 million

Amid the banking crisis and the Fed's aggressive policy with additional tightening, bitcoin and the wider crypto market are beginning to be seen as a safe haven. According to Robert

Irina Yanina 13:08 2023-03-24 UTC+2

Bitcoin recovers above $28k ahead of the weekend: Is the upside potential exhausted?

After a successful bullish week and a strong surge in volatility on March 22, trading activity in the cryptocurrency market fell slightly. Bitcoin managed to gain a foothold above $28k

Artem Petrenko 12:20 2023-03-24 UTC+2
Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.