RATE Group | Bitcoin (BTC) Price Watch: Watch These Upside and Downside Barriers
36970
post-template-default,single,single-post,postid-36970,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin (BTC) Price Watch: Watch These Upside and Downside Barriers

30 Jul Bitcoin (BTC) Price Watch: Watch These Upside and Downside Barriers

Posted at 04:28h in Bitcoin News by

[ad_1]

Bitcoin Price Key Highlights

  • Bitcoin price is currently consolidating in a short-term symmetrical triangle, and the breakout could determine direction.
  • An upside break could move all the way up to the next upside barrier around $9,000 while a downside move could hit $7,000.
  • Technical indicators are giving mixed signals, but there is evidence of bullish momentum picking up.

Bitcoin price is stuck in consolidation, and the breakout could hit these next upside or downside barriers marked.

Technical Indicators Signals

The 100 SMA is safely above the longer-term 200 SMA on this time frame, which means that the path of least resistance is still to the upside. This basically means that the uptrend is more likely to resume than to reverse. The gap between the moving averages is also gradually widening to signal stronger bullish momentum.

However, stochastic appears to be turning lower without even hitting overbought levels. This indicates that bears are eager to return and push bitcoin price back…

[ad_2]

Source link

Tags:
, , , , , ,