Trade Now

Capital at risk Advertisement
Name Symbol Market Market Cap ($) Algorithm
TRON TRXUSD Crypto 6,393,630,223 Not Mineable
  Price Change Price Change % Current Price Bid Price Offer
  -0.001289 -1.83% 0.069191 0.069099 0.069129
High Price Low Price Open Price Prev. Close 52 Week Range
0.071174 0.06828 0.07064 0.07048 0.046815 - 0.129271
Exchange Last Trade Size Trade Price Currency
KRKN 22:28:50 7,566.21 0.069191 USD
Price x Volume Volume Base Symbol Related Pairs
335,394.18 4,743,832.37 TRX TRXEUR TRXGBP TRXBTC

TA: Bitcoin Price Remains In Range, Why The Bulls Need To Take Control

26/05/2022 4:08am

NEWSBTC


Bitcoin retested the key $28,500 support zone against the US Dollar. BTC is rising and the bulls might aim a clear move above the $30,600 resistance. Bitcoin is trading in a major range below the $30,600 resistance zone. The price is now trading near the $29,800 level and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $29,950 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain pace if there is a clear move above the key $30,600 resistance zone. Bitcoin Price Remains Supported Bitcoin price remained well bid above the $28,500 support zone. There was a fresh increase initiated from the $28,635 swing low and the price climbed above $29,000. There was a break above the $29,500 resistance zone and the 100 hourly simple moving average. The price even climbed above the $30,000 level, but there was no upside continuation. A high was formed near $30,188 and the price is now consolidating gains. Bitcoin is trading near the $29,800 level and the 100 hourly simple moving average. There was already a test of the 50% Fib retracement level of the upward move from the $28,635 swing low to $30,188 high. An immediate resistance on the upside is near the $29,950 level. There is also a crucial bearish trend line forming with resistance near $29,950 on the hourly chart of the BTC/USD pair. The next major resistance is near the $30,180 level. Source: BTCUSD on TradingView.com The main resistance is still near the $30,600 zone. A clear move above the $30,600 resistance level might start a strong increase. In the stated case, the price may perhaps clear the $31,200 resistance zone. Fresh Decline in BTC? If bitcoin fails to clear the $30,180 resistance zone, it could start another decline. An immediate support on the downside is near the $29,400 level. The first major support is near the $29,250 level. It is near the 61.8% Fib retracement level of the upward move from the $28,635 swing low to $30,188 high. A downside break below the $29,250 support might send the price further lower. The main support is still near the $28,500 level. Technical indicators: Hourly MACD – The MACD is slowly gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $29,400, followed by $29,250. Major Resistance Levels – $29,950, $30,180 and $30,600.

1 Year TRON Chart

1 Year TRON Chart

1 Month TRON Chart

1 Month TRON Chart
ADVFN Advertorial
Your Recent History
COIN
TRXUSD
TRON
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20220815 21:37:36