Bitcoin Price Analysis: Macro Resistance Could Push Price Down to $6,000s

Bitcoin Price Analysis: Macro Resistance Could Push Price Down to $6,000s | Bitcoin Magazine

<img src=”https://d5nxst8fruw4z.cloudfront.net/atrk.gif?account=qmvEl1aAFUE06C” style=”display:none” height=”1″ width=”1″ alt=”” />

NOW READING:

Bitcoin Price Analysis: Macro Resistance Could Push Price Down to $6,000s

by Bitcoin Schmitcoin
Bitcoin Price Analysis: Macro Resistance Could Push Price Down to $6,000s 1
Bitcoin Price Analysis: Macro Resistance Could Push Price Down to $6,000s

[youtube https://www.youtube.com/watch?v=tmi02jNOakU?feature=oembed&w=480&h=270]

Summary:

  1. The bitcoin market is seeing some pullback as the monthly and weekly resistance level has proven to be a tough level to crack. On the daily level we can see a couple of attempts to break the level, but ultimately this was matched with strong selling pressure.
  2. On bitcoin’s four-hour chart we can see that support that once held the market up is now turning into support with a failure to reclaim the level.
  3. If we fail to reclaim the $7,800s, we can expect to see a retest of the $7,300s and if that level doesn’t hold, we will very likely see a test of the low $6,000s.

Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information onBitcoin Magazine and BTC Inc sites do not necessarily reflect the opinion of BTC Inc and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

2019 BTC Inc.
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

What Are E-stablecoins And How Do They Operate?
What Are E-Stablecoins And How Do They Operate?
August 11, 2022
How to Choose a Legit Crypto Casino?
August 5, 2022
Spend Crypto
5 Ways to Spend Crypto
August 2, 2022
What Is A DAO LLC?
What Is A DAO LLC?
August 2, 2022
Can Running A Lightning Node Earn You Passive Income?
Can Running A Lightning Node Earn You Passive Income?
July 5, 2022


CryptoCurrencyUSDChange 1hChange 24hChange 7d
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
USD Coin1.000 0.44 % 0.25 % 0.18 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
Solana42.12 0.56 % 2.22 % 3.81 %
? --- 0.00 % 0.00 %

bitcoin
Bitcoin (BTC) $ 24,011.00
ethereum
Ethereum (ETH) $ 1,901.66
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 323.94
xrp
XRP (XRP) $ 0.374692
cardano
Cardano (ADA) $ 0.532897
binance-usd
Binance USD (BUSD) $ 1.00
solana
Solana (SOL) $ 43.29
polkadot
Polkadot (DOT) $ 9.42