Bitcoin Price Analysis: Consolidation Tests Strong Macro Resistance

Bitcoin Price Analysis: Consolidation Tests Strong Macro Resistance 1

Bitcoin is currently perched between a well-defined band of prices outlined on both the weekly and monthly timeframes. If we can maintain support on our weekly $8,200 level, we can expect to see the market push to test the upper boundaries of the resistance in the $9,200 to $9,500 range. However, if support does not hold and we manage to fall through, we can expect to see a much deeper test and potentially revisit the $6,400 to $6,800 range.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
--- --- --- ---
Ethereum1,776.1 0.05 % 3.76 % 8.56 %
Tether1.001 0.06 % 0.04 % 0.13 %
USD Coin1.001 0.02 % 0.11 % 0.04 %
BNB324.70 0.05 % 0.41 % 14.29 %
XRP0.3779 0.13 % 1.04 % 0.43 %
Cardano0.5345 0.25 % 0.28 % 4.09 %
Binance USD1.001 0.01 % 0.05 % 0.05 %
Solana42.12 0.56 % 2.22 % 3.81 %
Polkadot9.220 0.20 % 4.82 % 12.62 %

bitcoin
Bitcoin (BTC) $ 23,785.00
ethereum
Ethereum (ETH) $ 1,771.09
tether
Tether (USDT) $ 0.999821
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 323.58
xrp
XRP (XRP) $ 0.378123
cardano
Cardano (ADA) $ 0.531216
binance-usd
Binance USD (BUSD) $ 1.00
solana
Solana (SOL) $ 42.04
polkadot
Polkadot (DOT) $ 9.22