- Bitcoin noticed a 1.18% value improve over the previous 24 hours of buying and selling because the cryptocurrency continues to battle to stay above $6,800.
- The cryptocurrency was buying and selling above $7,000 final week however rolled over earlier than the weekend to drop beneath this help.
Bitcoin noticed a small 1.18% value rise right now because the cryptocurrency continues to battle to stay above the $6,800 help degree. $6,800 had offered vital resistance in March and early April and due to this fact is anticipated to offer an equal quantity of help shifting ahead.
Nevertheless, if the tide turns, and Bitcoin falls beneath $6,800, it may outcome within the cryptocurrency unwinding again beneath $6,000. Fortunately, the bulls have battled to stay above this degree over the previous 5-days of buying and selling and have been profitable up to now.
Bitcoin Value Evaluation
BTC/USD – Each day CHART – SHORT TERM
Market Overview
Analyzing the day by day chart above, we will clearly see Bitcoin hitting resistance at $7,400 final week after which rolling over to drop into the $6,800 degree. Extra particularly, the cryptocurrency has managed to stay above help at $6,765 which is offered by a brief time period .236 Fibonacci Retracement degree.
The market can also be battling to stay above help offered by a rising help development line after rebounding from right here right now.
Quick time period prediction: Bullish
Bitcoin remains to be bullish however an in depth beneath $6,800 would flip it impartial.
If the patrons can push increased, the primary degree of resistance is positioned at $7,000. Above this, resistance might be discovered at $7,174 (bearish .618 Fib Retracement), $7,400, $7,500, and $7,676 (1.618 Fib Extension).
Alternatively, if the sellers push beneath the $6,765 help, added help might be discovered at $6,500, $6,319 (.382 Fib Retracement), and $6,000 (.5 Fib Retracement).
Key Ranges
Assist:$6,800, $6,500, $6,100, $6,000, $5,911, $5,786, $5,636, $5,600, $5,500, $5,467 $5,200, $5,000, $4,800, $4,672, $4,577, $4,139, $4,000, $3,912, $3,500, $3,436.
Resistance: $7,000, $7,174, $7,400, $7,500, $7,676, $8,000, $8,073, $8,250, $8,461, $8,672, $8,979, $9,000, $9,100.
Abstract
Article Title
Bitcoin Value Evaluation: BTC Bulls Proceed Their Battle To Defend $6,800 With Bears On The Horizon
Description
Bitcoin noticed a 1.18% value improve over the previous 24 hours of buying and selling because the cryptocurrency continues to battle to stay above $6,800.
The cryptocurrency was buying and selling above $7,000 final week however rolled over earlier than the weekend to drop beneath this help.
Writer
Yaz Sheikh
Writer Title
Coin Gape
Writer Brand
Disclaimer
The views, opinions, positions or methods expressed by the authors and people offering feedback are theirs alone, and don’t essentially mirror the views, opinions, positions or methods of CoinGape. Do your market analysis earlier than investing in cryptocurrencies. The creator or publication doesn’t maintain any duty in your private monetary loss.
