#Bitcoin chart analysis

[amine ff]

The price of the Bettkin has not shown any strong movement since the morning, to continue fluctuating around the SMA 50, so there is no change in the bullish scenario based on stability above 6500.00 and 6450.00, while the next targets are at 6880.00 then 7190.00.

[dzin4aans]

Today we spot some life in BTC movement so lets see how the market develops in the coming days but slight movement higher above 6,6k might give some strength to Bitcoin but surely crucial level to break is 6,8k and once that happens bitcoin turns strongly bullish once more.

[dzin4aans]

Bitcoin still flat around this 6,5k level and still waiting for something. Its going to be interesting how this one unfolds but from my 7 years experience in forex markets I can be sure that whenever something is so quiet there must be coming something impressive so if the bitcoin can break the 6,8k level I think more interest in the asset arrive and then more volatility=bigger moves and probably a strong rally too.

[azmassi]

BTC continues its consolidation but seems more inclined to break up.

The 6800's resistance zone remains firm, but upward pressure could intensify in the near term. A break above the 6800 would bring into view the 7100 and above the recent highs around 7400.

On the downside, the first key support comes with the uptrend line around 6500, before the 6200/6100 zone.

[amine ff]

The pivotal price is negatively impacting the pivotal support levels 6500.00 and 6480.00, but it is stabilizing around the first level. Stochastic is showing a saturation in the sell now, waiting for the price to move up again, Trades within the ascending channel shown in the image. Therefore, we will maintain our positive expectations provided stability above these levels of support, awaiting targeting levels of 6880.00 and then 7190.00 as the next major stations.

[dzin4aans]

Today Bitcoin attempt to sell below 6,5k but the attempt is short lived and is quickly bought back with a nice 4h pin bar. Surely small pips and small movement but oh so meaningful Id say. Now some movement towards 6,7k could signal potential for a rise higher.

[amine ff]

The pair is trading around 6200.00 since the morning and since the price is below 6500.00, the bearish scenario will remain valid for the coming sessions, targeting 6040.00 and then 5880.00 mainly, noting that SMA 50 is the negative pressure to support the suggested downside.





---------- Post added at 08:20 PM ---------- Previous post was at 03:17 PM ----------

The start of the day's trading starts with a strong decline to break the pivotal support 6500.00 and reach the main negative target at 6040.00 directly, signaling signs of a return to the main downside, and we expect the downside to continue to dominate the upcoming trades, targeting 5880.00 as a next stop. From here, the bearish bias will be likely for today if the price does not push to breached the 6500.00 level and stability above it again.

[amine ff]

The pair has been fluctuating since the morning around 6200.00, and as long as the price is below 6500.00, our bearish outlook remains valid, supported by SMA 50, with our targets expected to start at 6040.00 and 5880.00.

[dzin4aans]

While I was having some trouble with network connection, seems that Bitcoin had its own issues yesterday and today because it has seen a big move down towards 6k again. This now becomes scary because if the price indeed reach 6k, there is some slightly bigger chance that it will break the 6k lower...

[amine ff]

The price of the form is showing a negative negative trading to gradually creep towards the first negative target at 6040.00, thus keeping our bearish outlook intact so far, relying on stability below 6500.00, along with the negative pressure formed by SMA 50. A break of 6040.00 will push the price to 5880.00 directly, while a break of 6500.00 will lead the price to gain near 6880.00 in the near term.