| Name | Symbol | Market | Market Cap ($) | Algorithm |
|---|---|---|---|---|
| Bitcoin | BTCUSD | Crypto | 521,942,016,971 | SHA-256d |
| Price Change | Price Change % | Current Price | Bid Price | Offer | |
|---|---|---|---|---|---|
| -260.14 | -0.96% | 26,866.44 | 26,863.86 | 26,865.58 |
| High Price | Low Price | Open Price | Prev. Close | 52 Week Range |
|---|---|---|---|---|
| 27,137.75 | 26,839.00 | 27,101.33 | 27,126.58 | 15,500.00 - 31,745.00 |
| Exchange | Last Trade | Size | Trade Price | Currency |
|---|---|---|---|---|
| GDAX | 04:12:57 | 0.003720 | 26,870.72 | USD |
Bitcoin Price Dips As Dollar Rips, Key Support Nearby
06/02/2023 3:32am
NEWSBTC
Bitcoin price is correcting gains below the $23,250 zone. BTC must stay above the $22,500 support to avoid a major drop in the coming sessions. Bitcoin is correcting gains below the $23,250 support zone. The price is trading below $23,250 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $23,380 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue lower towards the $22,500 support zone in the near term. Bitcoin Price Remains Supported Bitcoin price failed to settle above the $24,000 level and started a downside correction. BTC declined below the $23,500 and $23,250 support levels to move into a short-term bearish zone. There was a break below a key bullish trend line with support near $23,380 on the hourly chart of the BTC/USD pair. The pair even declined below the $23,000 level. A low is formed near $22,758 and the price is now consolidating losses. Bitcoin price is trading below $23,250 and the 100 hourly simple moving average. An immediate resistance is near the $23,000 zone. It is near the 23.6% Fib retracement level of the recent decline from the $23,589 swing high to $22,758 low. The next major resistance is near the $23,200 zone. There is also a connecting bearish trend line with resistance near $23,200 on the same chart. The trend line is close to the 50% Fib retracement level of the recent decline from the $23,589 swing high to $22,758 low. Source: BTCUSD on TradingView.com A clear move above the $23,200 resistance might start a decent increase. In the stated case, the price may perhaps rise towards the $23,500 level. The next resistance could be near the $24,250 level, above which btc price might test $25,000. More Losses in BTC? If bitcoin price fails to clear the $23,200 resistance, it could continue to move down. An immediate support on the downside is near the $22,750 zone. The next major support is near the $22,550 zone. A downside break below the $22,500 level might send the price towards the $22,200 level. Any more losses might send the price to $21,500 in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $22,750, followed by $22,550. Major Resistance Levels – $23,000, $23,200 and $23,500.
1 Year Bitcoin Chart |
1 Month Bitcoin Chart |