Bitcoin price is currently under pressure below the $9,070 resistance area against the US Dollar.
The price is holding the $8,600 support area, but it remains at a risk of more losses.
There is a major bearish trend line forming with resistance near $8,900 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase).
The pair is likely to break the $8,600 support area and it might soon test the $8,300 support.

Binance iOS App Now Allows Enormous Bitcoin and Ethereum Margin Trading
Tuesday December 10, 2019

Coinspeaker Binance iOS App Now Allows Enormous Bitcoin and Ethereum Margin TradingThe iPhone users now able to trade Bitcoin and Ethereum futures contracts thanks to Binance‘s robust engine tested on Android.Exchanges Allow Dumping Savings at the Speed of LightningYou don’t even have to use a PC to dump money anymore: convenient Binance iOS app allows […]

The post Binance iOS App Now Allows Enormous Bitcoin and Ethereum Margin Trading appeared first on 12bit trade.

Bitcoin price is showing a few bearish signs below $8,900 and $9,070 against the US Dollar. BTC could test the $8,300 support area before it starts a decent recovery.
Bitcoin Price Analysis
This month, bitcoin price remained in a bearish zone and declined from the $9,500 resistance against the US Dollar. BTC broke many key supports near the $9,250 and $9,180 levels to enter a bearish zone.
Moreover, there was a break below the $9,070 support and the 55 simple moving average (4-hours). Finally, there was a break below the $8,850 support and the price traded as low as $8,559.
At the moment, the price is correcting higher and is trading above $8,700. Besides, it climbed above the 23.6% Fib retracement level of the downward move from the $9,157 high to $8,559 low.
However, the $8,860 level seems to be acting as a strong resistance. It represents the 50% Fib retracement level of the downward move from the $9,157 high to $8,559 low. More importantly, there is a major bearish trend line forming with resistance near $8,900 on the 4-hours chart of the BTC/USD pair.
Above the trend line, the next resistance is near the $9,000 and $9,020 levels. Besides, the 76.4% Fib retracement level of the downward move from the $9,157 high to $8,559 low is also near the $9,020 area.
The main resistance is near the $9,070 level and the 55 simple moving average (4-hours). Therefore, a successful close above the $9,070 resistance is must for an increase towards $9,500 and $9,800.
Conversely, the price could continue to move down if it fails to surpass $8,860 or $9,000. An immediate support is near the $8,600 level. If there is a bearish break below the $8,600 support, the price could decline towards the $8,300 support area.
Bitcoin Price
Looking at the chart, bitcoin price is trading in a downtrend as long as there is no upside break above the $8,850 and $9,070 resistance levels. On the downside, the bears are likely targeting the $8,300 support area.
Technical indicators
4 hour MACD – The MACD is struggling to losing momentum in the bearish zone.
4 hour RSI (Relative Strength Index) – The RSI is currently well below the 50 level, with a bearish angle.
Key Support Levels – $8,600 and $8,300.
Key Resistance Levels – $8,850, $9,000 and $9,070.
The post Bitcoin Price Analysis: BTC Could Test $8.3K Before Recovery appeared first on Live Bitcoin News.


Thursday January 01, 1970