US stock surges, BTC price has a flat movement…”BTC technical indicator shows a bullish sign”

고다솔 인턴기자 iufcsol0122@coinreaders.com | 기사입력 2020/07/15 [12:42]
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US stock surges, BTC price has a flat movement…”BTC technical indicator shows a bullish sign”

고다솔 인턴기자 | 입력 : 2020/07/15 [12:42]


US stock skyrocketed thanks to the decrease in the new COVID-19 cases, news about the virus vaccine and the continuous economic stimulus from the Federal Reserve System(Fed). On 14th(ET), in the New York Stock Exchange(NYSE), Dow Jones Industrial Average 30 Index ended at 26,642.59, jumped 2.13% compared to the previous trading session; S&P 500 Index finished at 3,197.52, climbed 1.34%; The Nasdaq Composite Index traded at 10,488.58, grew 0.94%. US stock Blockchain theme increased 0.17%.

 

For the last 24 hours, Bitcoin(BTC) price had no change, trading at the level of USD 9,200. BTC/USD pair faces the resistance zone between USD 9,300 and USD 9,400. Whether the cryptocurrency would break above the USD 9,400 or drop below the USD 9,000 level remains to be seen.

 

Yet, investors are too worried about trading cryptocurrency. Fear & Greed Index, provided by Alternative, recorded 43, meaning 'fear'. In the index, a value of 0 means "Extreme Fear" while a value of 100 represents "Extreme Greed".

 

"While Bitcoin is going on low-volatility, technical indicator signifies the potential upward movement. If it breaks above the critical resistance line at the USD 9,930, it would show a bullish breakout, starting to rally at the USD 13,880," anticipated Coindesk.

 

"Hash Ribbon indicator is giving a buy signal. This is because of the effect of negative sentiment and price action during deep bear markets and times of miner capitulation. Bitcoin market would be bullish soon," argued Charles Edwards, a cryptocurrency asset investment company executive.

 

"If the critical supporting line of the USD 8,900 is collapsed, BTC price can be fallen by the 50-week Moving Average(MA), which is currently at the USD 8,598," Coindesk pointed out.

 

"To start a strong increase and a rally of BTC/USD pair, the price must gain strength above the $9,300, $9,330 and $9,360 resistance levels. Finally, a successful close above the $9,400 pivot level could open the doors for a larger upward move. Bitcoin price, however, seems to be holding the $9,200 and $9,120 support levels. If it continues to struggle near $9,300, there is a risk of a downside break. And a proper close below the $9,120 support zone may perhaps start a significant bearish move. The next support could be $9,000, followed by the $8,800 weekly pivot level," reported NewsBTC.

 

"Bitcoin stability is a welcoming news. I hope the price stays in this range for the next 3-4 years. It allows good traders hold more BTC, while pushing out impatient and greedy traders. If you're in BTC, you should be thinking in decades," tweeted Cobra, co-owner of Bitcoin.org.

 

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