TRENDING:
Trade War
XAU/USD
Silver
EUR/USD
GBP/USD
USD/CAD
AUD/USD
Sponsored by
Login
|

Bitcoin/Dollar levels: As long as 6595 is support look for 7017

Bitcoin/Dollar levels: As long as 6595 is support look for 7017
Swissquote Bank Research TeamSwissquote Bank Research TeamSwissquote Bank Ltd

Bitcoin/Dollar

As long as 6595 is support look for 7017.

Bitcoin

Stay on top of the markets with Swissquote’s News & Analysis

6595 is our pivot (invalidation) point.

Our preference
As Long as 6595 is support look for 7017.

Alternative scenario
The downside breakout of 6595 would call for 6436 and 6341.

Comment
The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 6687 and 6563).

Author

Swissquote Bank Research Team

More from Swissquote Bank Research Team
Share:

Editor's Picks

Ripple falters amid sell-off jitters and negative funding rates

Ripple falters amid sell-off jitters and negative funding rates

Ripple (XRP) has come under pressure, drifting lower to $1.35 at the time of writing on Tuesday. The over 2% correction looks poised to erase the previous day’s gains, which lifted the remittance token to $1.42.

Bitcoin could risk $50,000 amid the US-Iran war, mirroring the Russia-Ukraine war losses

Bitcoin could risk $50,000 amid the US-Iran war, mirroring the Russia-Ukraine war losses

Bitcoin (BTC) remains at downside risk amid escalation in the Middle East war, as Iran retaliates against the US, Israel, and its neighbouring countries. Drawing parallels to the early days of the Russia-Ukraine war, Bitcoin could extend losses below $60,000. 

Crypto Today: Bitcoin, Ethereum, XRP pull back as sentiment remains in extreme market fear

Crypto Today: Bitcoin, Ethereum, XRP pull back as sentiment remains in extreme market fear

The cryptocurrency market is broadly in the red on Tuesday as the Middle East grapples with an escalating war. Bitcoin (BTC) is in a pullback, trading below $67,000 at the time of writing, and most altcoins follow suit.

Bitcoin slips below $67,000 as risk-aversion grows amid escalating US-Iran war

Bitcoin slips below $67,000 as risk-aversion grows amid escalating US-Iran war

Bitcoin price slides 3% on Tuesday, nearly erasing the previous day's rebound. US-listed spot ETFs recorded an inflow of more than $450 million while Strategy added 3,015 BTC on Monday.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.