Tag: 8K

Bitcoin Rally At Risk of Screeching Halt at $8K as 100-Day SMA Approaches

boss

Bitcoin is up more than 5% and it broke the key $7,500 resistance against the US Dollar. BTC is now approaching a major hurdle near $8,000 and the 100-day simple moving average. Bitcoin is gaining bullish momentum above $7,000 and $7,200 against the US Dollar. The price is likely to face a strong resistance near $8,000 and the 100-day simple moving average. There was a break above a crucial bearish trend line with resistance near $7,040 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair…

Bitcoin is Consolidating Above 100 SMA and Likely Gearing For Lift-off To $8K

boss

Bitcoin gained traction and settled above the $7,000 resistance against the US Dollar. BTC price is consolidating gains above the 100 hourly SMA and likely to grind higher towards $7,500. Bitcoin is rising steadily and it is positioned nicely above $7,000 against the US Dollar. There is a strong support base forming near the $7,050 and $7,000 levels. There is a major bullish trend line forming with support near $7,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to continue higher towards…