Bitcoin Price Analysis: BTC Remains Attractive, $8,350 Holds Key

Bitcoin Price Analysis: BTC Remains Attractive, $8,350 Holds Key

Bitcoin Price Analysis: BTC Remains Attractive, $8,350 Holds Key

Bitcoin price traded towards the $8,350 resistance level and recently corrected lower against the US Dollar.

The price is holding the key $7,640 and $7,600 support levels and it could bounce back.

There is a crucial contracting triangle forming with support near $7,920 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase).

The pair remains well supported on dips near the $7,840, $7,640 and $7,600 levels.


Bitcoin price is currently correcting gains below the $8,000 support against the US Dollar. BTC is likely to climb higher in the near term as long as the $7,640 support area.

Bitcoin Price Analysis

This week, bitcoin price gained a strong bullish momentum above the $7,500 barrier against the US Dollar. The upward move was strong, as the price settled above the $7,800 level and the 55 simple moving average (4-hours). The BTC/USD pair climbed above the $8,000 and $8,200 resistance levels. It once again tested the $8,350 resistance area, where sellers emerged. A swing high was formed near $8,320 and recently the price started a downside correction.

There was a break below the $8,000 support and the 23.6% Fib retracement level of the last wave from the $6,631 low to $8,320 high. Moreover, there was a spike below the $7,800 level and the price tested the $7,600 support area. The 50% Fib retracement level of the last wave from the $6,631 low to $8,320 high also acted as a strong support. More importantly, the 55 simple moving average (4-hours) also acted as a support above $7,600. At the moment, the price is attempting a close below a crucial contracting triangle with support near $7,920 on the 4-hours chart.

If there is a proper close below the $7,900 support, there are chances of more losses. An immediate support is at $7,840 and the 55 SMA. Any further losses are likely to push the price towards the main $7,640 and $7,600 support levels. On the upside, the triangle resistance is near the $8,000 level, above which there are chances of more gains. The next key resistance is near the $8,180. Having said that, the bulls need to clear the $8,350 barrier for a fresh rally towards the $8,500 and $8,800 levels.

Looking at the chart, bitcoin price is clearly facing a strong barrier near the $8,350 level. If the price continues to struggle near the $8,350, there are chances of a sharp drop in the short term.

Technical indicators

4 hour MACD - The MACD is losing momentum in the bullish zone.

4 hour RSI (Relative Strength Index) - The RSI is currently above the 50 level, with a flat structure.

Key Support Levels - $7,800 and $7,600.

Key Resistance Levels - $8,000, $8,200 and $8,350.

The post Bitcoin Price Analysis: BTC Remains Attractive, $8,350 Holds

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I want to learn about the code of cryptocurrency with all it's features including POS and master node features, currently I have XSN code (stake-net coin) and i want to learn it so i can make use of it to learn different features of blockchain. There is no purpose to clone it or anything. How should i start learning it? I mean from which file should i start learning the code. I have learned basics of c++ but unfortunately I'm not that much good with c++. So from which file should i start learning it there is a lot .cpp and header files. Is there any one can had the same experience learning it?

Bitcoin to Surpass $100k by 2021? – Jared – Medium

Cryptocurrencies, The decision is yours

I’ve been told by naysayers that Bitcoin “will never hit $100k” and such a proposition is absurd. With a combination of the factors above, I believe that Bitcoin will usurp the $100k barrier within the next 3 years, but the path won’t be seamless. There will be cycles of boom and bust. Also, it’s possible that Bitcoin fails to reach such valuations or is halted by a massive setback like a black swan event. However, my bet is clearly on Bitcoin. In fact, I envision that someday we’ll look back and realize that the greater risk was not investing in Bitcoin at all.