TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Bitcoin Price Analysis: BTC/USD breaks past $6,100 level

  • Bulls remain strong despite bearish correction.
  • BTC/USD is trading above $6,100 for the first time since 14th November 2018.
Bitcoin Price Analysis: BTC/USD breaks past $6,100 level
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD went up from $5,945 to $6,165 this Thursday. The bulls had a promising start as they pushed the price from $5,945 to $6,059 during an eight-hour period. During the next eight-hour period, the bears stepped into the market to correct the price. During this period, the price went down from $6,059 to $5,998.75. The bulls, however, regained control and managed to chart new highs. They were able to push the price from $5,998.75 to $6,165.

BTC/USD 4-Hour Chart

  • The market is trending above the 200-day simple moving average (SMA 200), SMA 50, and SMA 20 curves.
  • The relative strength index (RSI) curve has currently crept into the overbought zone.
  • The Eliiot wave oscillator has had eight consecutive bullish sessions.
  • The signal line was about to converge with the MACD line before it diverged away, indicating more bullish momentum.
     

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

More from Rajarshi Mitra
Share:

Editor's Picks

Cardano: Under pressure as bearish derivatives cap recovery

Cardano: Under pressure as bearish derivatives cap recovery

Cardano remains under pressure, trading lower at $0.165 on Monday after mild losses in the previous week. Weakening derivatives metrics and subdued momentum indicators suggest that ADA's upside move remains limited, keeping downside risks in focus. Derivatives data for Cardano shows bearish sentiment among traders.

Bitcoin holds firm at $65,000 – AAVE and ONDO gain traction

Bitcoin holds firm at $65,000 – AAVE and ONDO gain traction

The broader cryptocurrency market risk-off sentiment eases as the US and Iran extend the pause in missile strikes, while Oman holds peace talks. Bitcoin holds firm above $65,000 on Monday, while DeFi tokens, including Aave and Ondo, emerge as top performers over the last 24 hours.

Bitcoin extends winning streak, Ethereum clears key hurdle, XRP steadies

Bitcoin extends winning streak, Ethereum clears key hurdle, XRP steadies

Bitcoin, Ethereum and Ripple begin the week on a firm footing after surging over 1%, 4% and 1%, respectively, in the previous week. BTC holds above key technical resistance after recording its fourth consecutive weekly gain.

World Foundation raises over $52M in token sale as World Network marks third anniversary

World Foundation raises over $52M in token sale as World Network marks third anniversary

World Foundation, the nonprofit organization behind World Network, has raised $52.5 million through a strategic sale of its WLD token as the project marks three years since its mainnet launch. The funding round was led by Pantera Capital and included participation from Bain Capital Crypto, Eightco Holdings, Selini Capital, Susquehanna Crypto and other investors.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.