skip to Main Content
bitcoin
Bitcoin (BTC) $ 84,292.58 1.17%
ethereum
Ethereum (ETH) $ 1,863.20 0.77%
tether
Tether (USDT) $ 1.00 0.02%
xrp
XRP (XRP) $ 2.08 1.58%
bnb
BNB (BNB) $ 597.76 2.22%
solana
Solana (SOL) $ 124.01 2.08%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.169924 0.12%
cardano
Cardano (ADA) $ 0.668633 0.91%
tron
TRON (TRX) $ 0.237417 0.17%

Bitcoin Price Analysis Sep.5: Will $7000 Hold?

When any asset fails to break up after consolidation – the momentum dies suddenly. Especially when dealing with volatile Bitcoin. Bitcoin was looking very good till lately, but it might be enough: in less than 60 minutes Bitcoin had lost $400 of its value. As what looks to be a long squeeze.

It’s now unclear what the real reason is, but the fact is that Bitcoin had broke the major support at $7300, $7140 (the 50 days moving average) and as of writing this update the $7000 major support along with the ascending line is being tested.

Breaking it down, and Bitcoin should visit the $6800 very quickly. The next major area of support is the $6700 zone where lies the moving average 200 days.

This is how it works – Bulls Take the Stairs and Bears Take the Elevator down.

To sum up

Support levels lie at $7000, $6800 (strong support), $6700.

Resistance levels lie at $7140, $7300, $7500 – $7600 (the long-term descending line).

Bitcoin Prices: BTC/USD BitFinex 4 Hours chart

BTC Sep5

Cryptocurrency charts by TradingView.

The post Bitcoin Price Analysis Sep.5: Will $7000 Hold? appeared first on CryptoPotato.

Loading data ...
Comparison
View chart compare
View table compare
Back To Top