ביטקויןלונג
Bitcoin Opens 2020 With Immense Volatility
מעודכן
Welcome to PrimeXBT’s special analysis of Bitcoin, focusing on BTCUSD’s price action as well as the digital asset’s fundamental developments.
Bitcoin entered the new decade with a record hash rate, which reached a maximum of 119.35 excesses per second. The complexity of mining has also increased.
Recently, there was a downside extension for Bitcoin below the $7100 and $7000 support levels against the US Dollar. BTC’s price dived towards the $6880 support and traded at a new 2020 low at $6863.
However, bulls quickly took a stand, resulting in a sharp upward move above the $7000 resistance level. More importantly, there was a break above a key local bearish trend line with resistance near $7120.
On the downside, initial support is near the $7150 level and the broken trend line. The next major support is near the $7080 level, below which the price is likely to resume its downtrend.
If the price continues to rise above $7400 and $7500, the next stop for the bulls may perhaps be $7680 and $7850 in the coming days.
Will the same pattern below repeat itself at this time? It seems as though this is a strong possibility while looking at this chart comparison.
Watch closely for our future updates to be the first one to get well-timed trading signals!
Bitcoin entered the new decade with a record hash rate, which reached a maximum of 119.35 excesses per second. The complexity of mining has also increased.
Recently, there was a downside extension for Bitcoin below the $7100 and $7000 support levels against the US Dollar. BTC’s price dived towards the $6880 support and traded at a new 2020 low at $6863.
However, bulls quickly took a stand, resulting in a sharp upward move above the $7000 resistance level. More importantly, there was a break above a key local bearish trend line with resistance near $7120.
On the downside, initial support is near the $7150 level and the broken trend line. The next major support is near the $7080 level, below which the price is likely to resume its downtrend.
If the price continues to rise above $7400 and $7500, the next stop for the bulls may perhaps be $7680 and $7850 in the coming days.
Will the same pattern below repeat itself at this time? It seems as though this is a strong possibility while looking at this chart comparison.
- Resistance Zone: $7410 - 7500
- Support Zone: $7100 - 7150
- Market Cap: $133 118 005 236 USD
- Volume (24h): $27 122 935 420 USD
- Circulating Supply: 18 139 475 BTC
Watch closely for our future updates to be the first one to get well-timed trading signals!
עסקה סגורה: היעד הושג
הערה
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