Denis Joeli Fatiaki
Independent Analyst
BTC/USD is trending up again in the 30 minutes time frame; the price structure has changed since the weekend selloff with higher highs and higher lows. Prices fell below the crucial point at 36170 in yesterday's session but bounced back and continued to retest this critical level as we saw rises and falls in the last 24 hrs.
AS of writing, BTC was heading towards 36170 after a pullback from a higher high at 37430 in the 30 minutes chart; 37884 is still a contender if it breaks previous highs.
The H4 price chart reveals a symmetrical triangle, which could favour the bulls since the overall direction is still in an uptrend. Prices are being squeezed as it approaches the end of the triangle at 36170. However, it could swing to the downside if it fails at 36170 and falls below 33396.
Critical resistance estimates: 37884, 39104, 40656, 42371, 43592, 45144
Critical support estimates: 36170, 34616, 33396, 31681, 29967, 28908
30 minutes price chart support and resistance forecast
H4 price chart support and resistance forecast
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Latest Crypto News & Analysis
Editors’ Picks
Dogecoin: DOGE on the verge of a 75% lift-off
Dogecoin price breaks out of a bull flag pattern after surging 20%. DOGE could surge 75% to $0.095 if it bounces from the 50% Fibonacci retracement level at $0.055. A bearish outcome could evolve if the price re-enters the “flag” and starts consolidation.
Bitcoin price ready for another upswing as the Fed publishes new preconditions for a digital dollar
The Fed will be looking for stakeholder interest and buy-in to support the launch of a CBDC. The US is still a long way to develop a digital dollar because many structures are not yet in place.
Solana: SOL could take a breather and pullback 30% after a 600% bull rally
SOL price has been on an uptrend since Jan 22 with only minor corrections. SOL was surprisingly unbothered during the market crash on Feb 22 and 23, as it dropped by a mere 13%.
Ethereum: ETH building overhead pressure threatens losses to $1,200
Ethereum’s recovery stalls at $1,700, opening the door to the ongoing bearish pressure. The IOMAP reveals the presence of intense selling pressure ahead of Ether.
Bitcoin Weekly Forecast: BTC journey to $100,000 might be easier than expected
This past week has been extremely beneficial for Bitcoin which jumped by 30% since Monday 8. Several positive announcements, especially Tesla purchasing $1.5 billion worth of the digital asset propelled the flagship cryptocurrency to new highs.