$7,000? Bitcoin Looks North After Six-Day High

$7,000? Bitcoin Looks North After Six-Day High

यूएसआई टेक सबसे आसान निष्क्रिय Bitcoin निवेश

Despite the bearish chart setup, Bitcoin (बीटीसी) rose to a six-day high on Monday, putting a corrective rally to $7,000 back on the map.

The leading cryptocurrency unexpectedly picked up a bid around $6,450 पर 16:00 UTC yesterday and rose to $6,850 – the highest level since June 12, according to Bitfinex data.

The $400 rally may have trapped a few bears on the wrong side of the market, given the pennant breakdown on the 4-hour chart had called for a drop to $6,000.

Yesterday’s gravity-defying price action in BTC has boosted the odds of a rally to $7,024 (23.6 percent Fibonacci retracement of the sell-off from $9,990 सेवा मेरे $6,108). तथापि, the long-run outlook remains bearish for now.

प्रेस समय, bitcoin is changing hands at $6,700 on Bitfinex.

4-घंटे चार्ट

As seen in the chart above, the 4-hour candle crossed the upper Bollinger band in a convincing manner yesterday, signaling a bullish Bollinger band (standard deviation of +2 तथा -2 on 20-candle moving average) breakout.

Trading volume also picked up (circled on chart), adding credence to the bullish move. इस दौरान, the cryptocurrency has also found acceptance above the 50-candle moving average (एमए) and the relative strength index (RSI) is biased bullish (above 50.00).

इसलिए, BTC will likely clear the immediate resistance at $6,736 (yellow dotted line) and test supply around $7,024 (23.6 percent Fibonacci retracement of the drop from $9,990 सेवा मेरे $6,108) in the next 24 घंटे.

It’s worth noting that the descending (bearish) 100-candle MA is located at $7,045, marking a key resistance level for the bulls.

The positive Bollinger band setup also validates the argument put forward by the bullish price-relative strength index (RSI) divergence last week that the cryptocurrency has found a temporary low at around $6,100.

Daily chart

BTC closed above the 10-day MA yesterday, invalidating the immediate bearish outlook. It also created a bullish outside-day candle on Monday (price action engulfed Sunday’s high and low) – that is, the day began on a pessimistic note, but ended optimistically. Thus, the probability that the corrective rally will gather traction is high.

राय

  • BTC looks set to take out immediate resistance at $6,736 and rally towards $7,024 (23.6 percent Fibonacci retracement of the drop from $9,990 सेवा मेरे $6,108).
  • A daily close (प्रति यूटीसी के रूप में) above that level would open the doors to $7,500–$7,600, although the rally could be short-lived as the long-run technicals are still biased to the bears.
  • Bearish scenario: A sell-off to $6,000 could still happen this week, if BTC closes (प्रति यूटीसी के रूप में) below the 10-day MA ($6,582) today.

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blockchain खबर में नेता, CoinDesk एक मीडिया आउटलेट है कि उच्चतम पत्रकारिता के मानकों के लिए प्रयास करता है और एक का पालन करता है है संपादकीय नीतियों की सख्त सेट. CoinDesk डिजिटल मुद्रा समूह के एक स्वतंत्र ऑपरेटिंग सहायक कंपनी है, जो cryptocurrencies और blockchain स्टार्टअप में निवेश.

https://www.coindesk.com/7000-bitcoin-rally-could-gather-pace-after-six-day-high/

यूएसआई टेक सबसे आसान और सबसे निष्क्रिय Bitcoin निवेश के साथ अपने जीवन को बदलने

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