There are positive signs in the movement of bitcoin prices

[hyjyg55]

Bitcoin began a steady upward trend, breaking the $ 9,300 resistance level.

At present, the price of this currency has increased by 2.17% and may continue its upward trend towards the resistance level of $ 9,500.

Bitcoin prices are rising and the resistance zone has recently broken $ 9300.
The price of the currency reached a new weekly high of $ 9372 and was above the 100-hour simple moving average.
A short-term uptrend channel with a support level of $ 9290 is formed in the hourly chart of the Bitcoin / dollar pair.
The currency remains at the support level and is likely to continue its upward resistance to the $ 9,500 resistance level.

Bitcoin price increases

Yesterday we saw a lot of positive signs above the $ 9100 level. Bitcoin began a steady upward trend, breaking prices above the main resistance levels of $ 9250 and $ 9300 and entering the positive territory.

Prices even peaked at $ 9,300 and peaked at a simple 100-hour moving average. A new weekly ceiling was set at around $ 9372, and now the price is adjusting to lower levels. The price fell below the corrective Fibonacci level of 23.6 percent in the upward range of 9178 to 9372 dollars.

Bitcoin's hourly chart appears to be a short-term uptrend with a support level close to $ 9290, and the price is approaching the channel support level at $ 9290.

http://s12.picofile.com/file/8402231800/%D8%A8%DB%8C%D8%AA_%DA%A9%D9%88%DB%8C%D9%86_1024x486.jpg

Key levels of Bitcoin support
If Bitcoin starts its downward correction below the support levels of $ 9292 and $ 9275, it will probably fall to the support level of $ 9245 (the recent broken zone).

The next major support level is around $ 9,180, and if the price falls below that level, Bitcoin is likely to return to the downtrend in the short term.

Technical indicators

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*The moving average of convergence and divergence is slowly entering the descending zone.
*The hourly relative strength index is declining to 50.
*The main support levels are $ 9275 and then $ 9180.
*The main resistance levels are $ 9350, $ 9375 and $ 9500.

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[palle11]

Technical indicators

*The moving average of convergence and divergence is slowly entering the descending zone.
*The hourly relative strength index is declining to 50.
*The main support levels are $ 9275 and then $ 9180.
*The main resistance levels are $ 9350, $ 9375 and $ 9500.

A brief one on this. The support levels you pointed at have all been met and broken down and the resistance too. The price of bitcoin may not be looked at from support or resistance levels for now because soon we are seeing a huge run. So trading now is to follow what the market is doing.

Moreover, moving average is not behaving before price action.

[sunsilk]

I've witnessed the $9300 breaking of bitcoin and thought that it will push through $9400-$9500 but it didn't. There are always opposite analysis that I have read while op says that it's a positive sign.

Whilst, last time I've read someone said that those indicators shows bad sign. 

[sujonali1819]

Positive sign? Only we can see it when we will see bitcoin cross the 10k resistance and stable for a week. Otherwise, I can not see the good movement during the 9000-9300$ up-down movement.
For a while, we are seeing bitcoin is scrolling 9k to below 10k level. So I don't get the positive sign still until it crosses 10k and holds the price.

[maxreish]

Trying to break the resistance level at $9300 it will again retest and if it will break it one more time then it will probably be a sign of a bullish bitcoin market. Well, I am looking forward to that because we have been into this price for so many weeks now. $10k'is about to break let's look into that this coming days.

[Coin_trader]

It's too early to conclude that since we already on 2nd candle stick after BTC reach 9300 level. We need to closed above it today so that we can break the downtrend line. The volume is too small and I believe this recent short price fluctuation is just normal and same with other event recently when BTC hits the downtrend line.

For me, until there is a significant volume then we can confirm that BTC price already gaining momentum again for another price surcharge.

[pooya87]

I've witnessed the $9300 breaking of bitcoin and thought that it will push through $9400-$9500 but it didn't. There are always opposite analysis that I have read while op says that it's a positive sign.

Whilst, last time I've read someone said that those indicators shows bad sign. 

no they don't show any bad sign at all just like the simple rise to whatever level below $10k is not a good sign. it is just the market fluctuation in a range that it has been stuck for many months now.
the reason why we aren't seeing big rises is mainly because everyone is currently waiting for some sort of "signal" before jumping back in while the whale-accumulators are buying bitcoin cheap and day traders are pump and dumping shitcoins. such signal could be some build up or the breaking of $10k itself or some positive news.

[dragonvslinux]

Nice post, I liked the detail and MA references, as well as the lack of plagiarism - good job. Can't argue that on the 1hr chart it does look bullish, but for me that's about as far as it goes. It seems that mainly people in this thread overlooked the fact you were looking at smaller time-frame which is unfortunately. Probably best referencing the time-frame next time.

The 4hr chart still looks like a shit show, with strong resistance around $9.4K-$9.5K as you referenced (200 MA):

As expected, $9,400 remains strong resistance with the confluence of the downwards sloping 200 MA, the bear channel resistance trend-line as well as the 0.618 fib retracement:

Daily chart doesn't look much better to me either, strong resistance around the same level as the 4hr (particularly the 50 Day MA):

Note that yesterdays bounce was weaker than the previous time we tested the resistance trend-line (June 22nd) with less volume. This isn't a positive sign what so ever:

Finally from an alternative perspective there is also this major issue:

[maydna]

Trying to break the resistance level at $9300 it will again retest and if it will break it one more time then it will probably be a sign of a bullish bitcoin market. Well, I am looking forward to that because we have been into this price for so many weeks now. $10k'is about to break let's look into that this coming days.

I do not expect to see bitcoin price will still increase and break $9,300 this week, but if that happens before the weekend, then that can be a good sign for us to watch for what will happen in the next week, and hopefully, the price can increase more than $9,300. But still, the bitcoin price is unpredicted, and we don't know if the price can grow more than now because we already see when the price increases, the next hour the price can decrease, and back to the higher price again. That situation happens many times from a few weeks ago, and we need to enjoy the ride. Don't forget to place your order if you want to get the chance to make a profit.

[Paycoinzzz]

Thank you for the analysis and it is definitely a great article, but I have an opposite opinion to you. I would argue that bitcoin is just finally reaching resistance to prepare for a major dump. I'm not a good technical analyst but I am pretty good on fundamentals. Our current economy is not stable and there are still many unemployed people out there but the stock index is still rising. This is something against the natural law and a bad thing will happen soon.

[DevilSlayer]

Trying to break the resistance level at $9300 it will again retest and if it will break it one more time then it will probably be a sign of a bullish bitcoin market. Well, I am looking forward to that because we have been into this price for so many weeks now. $10k'is about to break let's look into that this coming days.

I do not expect to see bitcoin price will still increase and break $9,300 this week, but if that happens before the weekend, then that can be a good sign for us to watch for what will happen in the next week, and hopefully, the price can increase more than $9,300. But still, the bitcoin price is unpredicted, and we don't know if the price can grow more than now because we already see when the price increases, the next hour the price can decrease, and back to the higher price again. That situation happens many times from a few weeks ago, and we need to enjoy the ride. Don't forget to place your order if you want to get the chance to make a profit.

The resistance is too strong, try to observe to the daily chart of the bitcoin and you will see that whenever the price reached or got near at its resistance level; the price resists where the it is bouncing back.

I do not see any signs of improvement because the price is still doing sideways. There is no clear movement of the trend and for me it is hard to find an entry point because the price is just consolidating. The RSI of the bitcoin is too messy because it is creating lower lows and lower highs and it id a sign of weakness for me. The best time to enter whenever there will be a breakout that will happen where the price will pierced the resistance.

[btc78]

I've witnessed the $9300 breaking of bitcoin and thought that it will push through $9400-$9500 but it didn't. There are always opposite analysis that I have read while op says that it's a positive sign.

Whilst, last time I've read someone said that those indicators shows bad sign. 

let them say whatever they want,and let us do what is necessary .we are here to Invest and not just to listen from everybody here specially those random people who says this and that.
because if we will do the same then lets expect our money will gone in the air.

Thank you for the analysis and it is definitely a great article, but I have an opposite opinion to you. I would argue that bitcoin is just finally reaching resistance to prepare for a major dump. I'm not a good technical analyst but I am pretty good on fundamentals. Our current economy is not stable and there are still many unemployed people out there but the stock index is still rising. This is something against the natural law and a bad thing will happen soon.

If there is another bad thing that will come it must have been done already because we have already survived the hardest part of this pandemic,and now we are in recovery already.

[sunsilk]

I've witnessed the $9300 breaking of bitcoin and thought that it will push through $9400-$9500 but it didn't. There are always opposite analysis that I have read while op says that it's a positive sign.

Whilst, last time I've read someone said that those indicators shows bad sign. 

no they don't show any bad sign at all just like the simple rise to whatever level below $10k is not a good sign. it is just the market fluctuation in a range that it has been stuck for many months now.
the reason why we aren't seeing big rises is mainly because everyone is currently waiting for some sort of "signal" before jumping back in while the whale-accumulators are buying bitcoin cheap and day traders are pump and dumping shitcoins. such signal could be some build up or the breaking of $10k itself or some positive news.

Yes, that's a relief. Just right now, the market is going green and good. I'm just trying to compare what OP is saying and those that I've seen elsewhere telling that the charts are showing bad signs.

I've witnessed the $9300 breaking of bitcoin and thought that it will push through $9400-$9500 but it didn't. There are always opposite analysis that I have read while op says that it's a positive sign.

Whilst, last time I've read someone said that those indicators shows bad sign. 

let them say whatever they want,and let us do what is necessary .we are here to Invest and not just to listen from everybody here specially those random people who says this and that.
because if we will do the same then lets expect our money will gone in the air.

I listen to any open idea but I'm just trying to look at both sides and there's always two sides and opinion for the charts. But anyway, I wouldn't let the negative touch my feelings as I'm always looking to the positive signs.

[Cherylstar86]

I've witnessed the $9300 breaking of bitcoin and thought that it will push through $9400-$9500 but it didn't. There are always opposite analysis that I have read while op says that it's a positive sign.

Whilst, last time I've read someone said that those indicators shows bad sign. 

let them say whatever they want,and let us do what is necessary .we are here to Invest and not just to listen from everybody here specially those random people who says this and that.
because if we will do the same then lets expect our money will gone in the air.

Thank you for the analysis and it is definitely a great article, but I have an opposite opinion to you. I would argue that bitcoin is just finally reaching resistance to prepare for a major dump. I'm not a good technical analyst but I am pretty good on fundamentals. Our current economy is not stable and there are still many unemployed people out there but the stock index is still rising. This is something against the natural law and a bad thing will happen soon.

If there is another bad thing that will come it must have been done already because we have already survived the hardest part of this pandemic,and now we are in recovery already.

I am looking forward for great future once the full recovery of bitcoin price will happen, and I am hoping that everybody will be worthy of all their hard work and patience. Let's have self confidence and have strong faith towards our conviction. Don't be discouraged with some minor price fluctuations, because it's all part of the correction process.

[TravelMug]

I've witnessed the $9300 breaking of bitcoin and thought that it will push through $9400-$9500 but it didn't. There are always opposite analysis that I have read while op says that it's a positive sign.

Whilst, last time I've read someone said that those indicators shows bad sign. 

Today I've seen the price moving towards $9500, and as per OP this is the next resistance level. Good to see that in the last 24 hours the price suddenly increase after like months of moving sideways and this could probably the break out run that we all have been waiting for except that that the increase is just minor.

So let's see if we can get to $9500 and then wait if it will continue or if there will be selling pressures again. We are approaching weekends, and usually the market shows signs of slowing down during this break.

[Kong Hey Pakboy]

I've witnessed the $9300 breaking of bitcoin and thought that it will push through $9400-$9500 but it didn't. There are always opposite analysis that I have read while op says that it's a positive sign.

Whilst, last time I've read someone said that those indicators shows bad sign. 

Today I've seen the price moving towards $9500, and as per OP this is the next resistance level. Good to see that in the last 24 hours the price suddenly increase after like months of moving sideways and this could probably the break out run that we all have been waiting for except that that the increase is just minor.

So let's see if we can get to $9500 and then wait if it will continue or if there will be selling pressures again. We are approaching weekends, and usually the market shows signs of slowing down during this break.

Bitcoin's price is showing positive signs because it doesn't go down to $9,000, and its the price is now in $9,300, so there are chances that the value of bitcoin could go up to $9,500 or more. I think a lot of people are now waiting for bitcoin to increase for them to sell out their bitcoins for them to protect their funds.

[maydna]

~snip~

The resistance is too strong, try to observe to the daily chart of the bitcoin and you will see that whenever the price reached or got near at its resistance level; the price resists where the it is bouncing back.

I do not see any signs of improvement because the price is still doing sideways. There is no clear movement of the trend and for me it is hard to find an entry point because the price is just consolidating. The RSI of the bitcoin is too messy because it is creating lower lows and lower highs and it id a sign of weakness for me. The best time to enter whenever there will be a breakout that will happen where the price will pierced the resistance.

Finally, bitcoin price can break $9,400 although right now, the price is down for $9,383. If bitcoin price can have more support, the price will be back to $9,400, and even the price will have a chance to surge to the high price. This moment will be good for bitcoin to increase still, but we have to be careful because the trend seems not predictable.

But I guess we will be still at a sideways for more because if we see on the market, the price stays at $9,000-$9,400, and there is a chance to see the price can go down if the support does not come to the market. Hopefully, the price can break higher price this weekend, so the next week, the price can break another higher price.

[sunsilk]

I've witnessed the $9300 breaking of bitcoin and thought that it will push through $9400-$9500 but it didn't. There are always opposite analysis that I have read while op says that it's a positive sign.

Whilst, last time I've read someone said that those indicators shows bad sign. 

Today I've seen the price moving towards $9500, and as per OP this is the next resistance level. Good to see that in the last 24 hours the price suddenly increase after like months of moving sideways and this could probably the break out run that we all have been waiting for except that that the increase is just minor.

So let's see if we can get to $9500 and then wait if it will continue or if there will be selling pressures again. We are approaching weekends, and usually the market shows signs of slowing down during this break.

Did it? I missed it but anyway it's still a quick move on that price. As long as bitcoin keeps moving like this and it's reaching again those levels that we've been before, this creates a bullish sentiment and can make those bearish people turn back to bullish.

We're gonna see a correction this time but it wouldn't be high. If it won't break $9300 for a long time, I think it will start to create a FOMO again for those who have been expecting the price lower than that.

[kotajikikox]

Thank you for the analysis and it is definitely a great article, but I have an opposite opinion to you. I would argue that bitcoin is just finally reaching resistance to prepare for a major dump.

If you will look in market now then maybe He is right because it seems that Bitcoin price is starting to make Moving Up.

I'm not a good technical analyst but I am pretty good on fundamentals. Our current economy is not stable and there are still many unemployed people out there but the stock index is still rising. This is something against the natural law and a bad thing will happen soon.

Even if there is some bad things coming soon what i believe is important are the capacity to handle this and wait.
Maybe sell some and wait for bear?
But of course i will remain as Holding.

[el kaka22]

I think keeping that support and resistance levels at your mind, it is also quite important to remember how easy it is to break them. We are literally breaking over resistance levels daily and going under support levels daily as well. Remember during pandemic it moved from $9k to $3.6k at the bottom in 5 hours, that is how long it took to drop the bitcoin price, and remember it was around $3k and went to $20k in a month, that is how easy it is to break over the resistance.

So, yes they are important for day trading, but in the long term they are useless and can't stop anything at all in any direction. Looks like it is a bit bull right now and I feel like it will definitely go over $10k this month, but this is not because of resistance level, that is because population inflation and that's it.