BTC/USD: Bitcoin is under pressure at 6553.35

What is going on with BTC/USD?

BTC/USD: Bitcoin broke through 6444.00 support and reached 6485.20 as highlighted in yesterdays update; however It failed to continue and pulled back to 6407.55.
The pair bounced at 6407.55 in the 60 minutes price chart and broke through 6485.20 on its second attempt. Bitcoin pierced its 500 EMA and reached 6607.20 before retreating to its 500 EMA at 6553.35.

Our forecast

BTC/USD: Bitcoin currently trades at 6559.50 just above its 500 EMA and needs to maintain its position at this level to continue to the upside. Targets to the upside are at 6607.20, 6630.75, and 6665.45. The pair looks weak and could head down to 6520.80 and 6485.20 if it fails to maintain above its 500 EMA. Targets to the downside are at around 6520.80 and 6485.20

Support - 6553.35,6520.80, and 6485.20
Resistance - 6607.20, 6630.75, and 6665.45

 Get free access to our trade signals at https://t.me/leoprimefx.

Chart 1: The short-term view of the BTC/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

BTCUSD

Chart 2: The short-term view of the BTC/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

BTCUSD

Neither LeoPrime nor any of its third-party Information Providers shall be liable for any direct, indirect, incidental, special or consequential damages arising out of or relating to this Agreement or resulting from the use or the inability to use the Services, including but not limited to damages for loss of profits, use, data or other intangible damages, even if such party has been advised of the possibility of such damages. LeoPrime shall have no liability, contingent or otherwise, to you or to third parties, for the correctness, quality, accuracy, timeliness, reliability, performance, continued availability, completeness or delays, omissions, or interruptions in the delivery of the data and services available on this Website or for any other aspect of the performance of this service or for any failure or delay in the execution of any transactions through this service. In no event will LeoPrime be liable for any special, indirect, incidental, or consequential damages which may be incurred or experienced on account of you using the data or services made available on this Website, even if LeoPrime has been advised of the possibility of such damages. LeoPrime will not bear any responsibility to inform you of any difficulties experienced by LeoPrime or third parties, with respect to the use of the services or to take any action in connection therewith.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

China prohibits units and individuals from creating and selling cryptocurrencies

The new draft of legal comments clearly states that no individual or unit can produce or sell tokens to replace CNY in circulation in the market. The violation of this law will have severe consequences according to the draft.

More Cryptocurrencies News

Uniswap Price Prediction: UNI needs to crack $3.1 for a massive price explosion

Uniswap has been in a downtrend for several weeks now while bulls attempt to see any kind of rebound. The digital asset seems to be facing a crucial resistance point. Let’s take a look at several indicators and patterns to determine the direction of the price.

More Uniswap News

Bitcoin Weekly Forecast: Bitcoin goes up as some of the world's largest currencies go down

While investors are waiting for BTC to retest all-time highs and shoot to the moon, it is already there. In some countries, the pioneer digital asset surpassed the peak of 2017 and hit new historic highs in local currencies.

More Bitcoin News

Yearn.Finance Price Prediction: YFI looks poised for a breakout towards $20,000

YFI has been trading inside a massive downtrend since September 12 and formed a head and shoulders pattern that broke bearishly. After losing close to 70% of its value over one month, the digital asset seems ready for a massive rebound. 

More Yearn.Finance news

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Bitcoin goes up as some of the world's largest currencies go down

While investors are waiting for BTC to retest all-time highs and shoot to the moon, it is already there. In some countries, the pioneer digital asset surpassed the peak of 2017 and hit new historic highs in local currencies.

Read the weekly forecast

BTC

ETH

XRP