ביטקאָין ריטשאַז קריטיש דזשאַנגקטשער: דאָ ס וואָס קען צינגל אַ שאַרף אַראָפּגיין

Bitcoin price extended its rise above the $10,800 resistance against the US Dollar. However, BTC is struggling to clear the all-important $11,000 barrier and it could decline sharply.

  • Bitcoin traded above the $10,700 and $10,800 resistance levels.
  • The price is still trading well below the $11,000 barrier, but above the 100 hourly simple moving average.
  • אויף די אַורלי טשאַרט פון די BTC / וסד פּאָר (אַ דאַטן קאָרמען פֿון Kraken) איז אַ קריטיש קאָנטראַקטינג דרייַעק וואָס איז געגרינדעט מיט $ 10,800 קעגנשטעל.
  • The pair could either break the $11,000 barrier or decline sharply below the $10,650 support region.

Bitcoin Price is Approaching Crucial Resistance

There was an upside extension in bitcoin price above the $10,700 resistance against the US Dollar. BTC even broke the $ 10,800 קעגנשטעל level and settled nicely above the 100 hourly simple moving average.

The price traded as high as $10,935 and it seems like the $11,000 barrier is already in play. Bitcoin is down more than $200 from the recent high and it tested the $10,650 support. A low is formed near $10,671 and the price is currently consolidating losses.

It is testing the 23.6% Fib retracement level of the recent decline from the $10,935 high to $10,671 low. It seems like there is a crucial contracting triangle forming with resistance near $10,800 on the hourly chart of the BTC/USD pair.

ביטקאָין פּרייַז

ביטקאָין פּרייַז טריידז העכער $ 10,800. מקור: TradingView.com

If there is an upside break above the $10,800 resistance, the price could break the $10,935 high and continue higher. On the upside, there is a major hurdle waiting for the bulls near the $11,000 level (ווי דיסקאַסט אין די וואכנשריפט אַנאַליסיס). A successful close above the $11,000 resistance is must to start a strong increase.

דאַונסייד ברעכן אין בטק?

If bitcoin fails to clear the $10,800 resistance or struggles to test $11,000 hurdle, there is a risk of a sharp decline. An initial support on the downside is near the triangle trend line and $10,650.

A clear break below the $10,650 support zone could lead the price towards the $10,500 support. Any further losses may perhaps start a sustained downward move and the price could dive towards the $10,000 support or even $9,880.

טעכניש ינדאַקייטערז:

Hourly MACD – The MACD is currently gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently just below the 50 level.

הויפּט שטיצן לעוועלס - 10,650 $, נאכגעגאנגען דורך $ 10,500.

הויפּט קעגנשטעל לעוועלס - $ 10,800, $ 10,850 און $ 11,000.

Source: https://www.newsbtc.com/2020/09/16/bitcoin-reaches-crucial-juncture-2/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-reaches-crucial-juncture-2