{"id":429655,"date":"2020-07-06T03:58:13","date_gmt":"2020-07-06T03:58:13","guid":{"rendered":"https:\/\/ktsl888.com\/?p=429655"},"modified":"2024-06-11T14:04:47","modified_gmt":"2024-06-11T14:04:47","slug":"bitcoin-turning-point-at-9000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-turning-point-at-9000\/","title":{"rendered":"Bitcoin at Potentially Significant Turning Point: $9,000 Holds The Key"},"content":{"rendered":"
Bitcoin declined sharply after it faced a strong rejection near $9,200 against the US Dollar. BTC is still holding the $9,000 support, below which there is a risk of a sustained decline.<\/em><\/p>\n In yesterday\u2019s weekly analysis<\/a>, we discussed the chances of a sharp decline in bitcoin if it fails to clear $9,200 against the US Dollar. BTC remained in a bearish zone and it fell significantly below the $9,100 and $9,000 levels.<\/p>\n The price even spiked below the $8,950 level and traded to a new weekly low at $8,914. However, there was no daily close below $9,000<\/a> and the price recovered sharply. It surged above the $9,000 level, plus surpassed the 50% Fib retracement level of the recent decline from the $9,194 high to $8,914 low.<\/p>\n BTC is currently facing a major resistance near $9,100 and the 100 hourly simple moving average. There is also a crucial bearish trend line forming with resistance near $9,120 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n The trend line coincides with the 76.4% Fib retracement level of the recent decline from the $9,194 high to $8,914 low. Therefore, a successful break above the $9,100 resistance and $9,120 is must for a fresh increase.<\/p>\n The next immediate resistance is near the $9,180, above which the bulls are likely to aim a sustained upward move towards the $9,500 resistance region in the coming sessions.<\/p>\n If bitcoin fails to clear the $9,100 and $9,120 resistance levels, it could start another decrease. The main support on the downside is near the $9,000 level.<\/p>\n A daily close below the $9,000 support zone will most likely open the doors for a sustained downward move towards the $8,800 support or $8,500 in the near term.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is currently gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level.<\/p>\n Major Support Levels \u2013 $9,000, followed by $8,800.<\/p>\n Major Resistance Levels \u2013 $9,100, $9,120 and $9,180.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin declined sharply after it faced a strong rejection near $9,200 against the US Dollar. BTC is still holding the $9,000 support, below which there is a risk of a sustained decline. Bitcoin fell sharply below $9,000, but it recovered quickly from the $8,914 swing low. The price is now facing a major resistance near $9,100 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $9,120 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could either rally above $9,100 or it might start another decline below $9,000. Bitcoin Price Still Holding $9,000 In yesterday\u2019s weekly analysis, we discussed the chances of a sharp decline in bitcoin if it fails to clear $9,200 against the US Dollar. BTC remained in a bearish zone and it fell significantly below the $9,100 and $9,000 levels. The price even spiked below the $8,950 level and traded to a new weekly low at $8,914. However, there was no daily close below $9,000 and the price recovered sharply. It surged above the $9,000 level, plus surpassed the 50% Fib retracement level of the recent decline from the $9,194 high to $8,914 low. BTC is currently facing a major resistance near $9,100 and the 100 hourly simple moving average. There is also a crucial bearish trend line forming with resistance near $9,120 on the hourly chart of the BTC\/USD pair. Bitcoin price still holding $9,000: Source: TradingView.com The trend line coincides with the 76.4% Fib retracement level of the recent decline from the $9,194 high to $8,914 low. Therefore, a successful break above the $9,100 resistance and $9,120 is must for a fresh increase. The next immediate resistance is near the $9,180, above which the bulls are likely to aim a sustained upward move towards the $9,500 resistance region in the coming sessions. Fresh Decrease in BTC? If bitcoin fails to clear the $9,100 and $9,120 resistance levels, it could start another decrease. The main support on the downside is near the $9,000 level. A daily close below the $9,000 support zone will most likely open the doors for a sustained downward move towards the $8,800 support or $8,500 in the near term. Technical indicators: Hourly MACD \u2013 The MACD is currently gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level. Major Support Levels \u2013 $9,000, followed by $8,800. Major Resistance Levels \u2013 $9,100, $9,120 and $9,180.<\/p>\n","protected":false},"author":67,"featured_media":429657,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,1144,78790,76835],"class_list":["post-429655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price Still Holding $9,000<\/h2>\n
Bitcoin price still holding $9,000: Source: TradingView.com<\/a><\/pre>\n
Fresh Decrease in BTC?<\/h2>\n