CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$21,219.00
  • ethereum
    ETH$1,197.95
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Crypto Fund
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » BTC » Bitcoin Steady But Fragile: Will a Volatile Weekend Sink the BTC Price to $8,500?

    Bitcoin Steady But Fragile: Will a Volatile Weekend Sink the BTC Price to $8,500?

    Author: Yuval Gov

    Last Updated Jan 7, 2020 @ 11:53

    Since our previous price analysis and over the past three days, Bitcoin has been trading in a tight range of $9,600 to $10,200. The top of that range is exactly where the 50-day moving average line (marked in purple on the daily chart) lies.

    During this time, trading volume has been relatively low. However, since reaching the 2019 high of $13,880, Bitcoin has been showing bearishness, creating lower lows. The recent test of $11,000 a week ago was rejected. Until it breaks that level and forms a lower high, it will be hard to see the Bitcoin market as bullish.

    More evidence for Bitcoin’s bearishness is its RSI, which is showing weakness under the crucial 50 level (on the daily chart) in bearish territory with much room to go down.

    The Bitcoin market appears calm in advance of the weekend. However, as mentioned above, things can change very quickly. In particular, Bitcoin loves to make sharp moves during weekends.

    Total Market Cap: $272 billion

    Bitcoin Market Cap: $175 billion

    BTC Dominance Index: 64.4%

    *Data from CoinGecko

    Key Levels to Watch

    Support/Resistance: Looking at the 4-hour chart, Bitcoin is following a descending trend line which started to form a month ago. The last rejection occurred yesterday at around $10,200. That line, along with the $9,800 – $10K price area, is the nearest resistance level at present. Next is the aforementioned 50-day moving average line (~$10,200) before the $10,500 – $10,600 region. Further above is the previous daily high of $11K.

    Bitcoin now possesses support at $9,500 – $9,600. Further below is $9,400, followed by the $9,000 area. Lower levels include $8,800 and $8,500, along with the CME futures gap.

    Daily chart’s RSI: Discussed above.

    Trading Volume: Discussed above.

    BTC/USD Bitstamp 4-Hour Chart

    btc_jul26_4h-min

    BTC/USD Bitstamp 1-Day Chart

    btc_jul26_d-min

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Bitcoin (BTC) Price
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Yuval Gov
    More posts by this author

    Yuval Gov has over 15 years of trading experience in the stock exchange, graduated from TAU - Economics and Management. Fell in love with the crypto space. Does Crossfit to get away from FOMO. Contact Yuval: LinkedIn

  • bitcoin
    BTC$21,219.00
  • ethereum
    ETH$1,197.95
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Over 33% of NFT Volume is Wash Trading: bitsCrunch CEO Interview

    Over 33% of NFT Volume is Wash Trading: bitsCrunch CEO Interview

    What’s Going on With Celsius Network and Why Is It a Huge Risk for Crypto (Opinion)

    What’s Going on With Celsius Network and Why Is It a Huge Risk for Crypto (Opinion)

    Institutions Are Definitely Here: ConsenSys’ Harriet Browning (Interview)

    Institutions Are Definitely Here: ConsenSys’ Harriet Browning (Interview)

    Binance Visa Card Guide: Read Before You Order

    Binance Visa Card Guide: Read Before You Order

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Okay Bears NFT Collection: The Complete Guide

    Okay Bears NFT Collection: The Complete Guide

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!