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Reading Time: 2min read Bitcoin price extended its decline and tested the $55,500 support against the US Dollar. BTC is now recovering, but it is likely to face a strong resistance near the $57,500 level. Bitcoin failed to hold the $57,000 zone and extended its decline towards the $55,500 level. The price is now trading well below the $57,500 support and the 100 hourly simple moving average. There was a break below a key contracting triangle with support near $57,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct higher, but the bulls are likely to fac...

Reading Time: 2min read Bitcoin price failed to surpass the $59,500 resistance against the US Dollar. BTC is now trading below $58,000, but it is still above important supports such as $56,500. Bitcoin failed to gain strength above the $59,200 and $59,500 resistance levels. The price is now trading below the $58,250 support and the 100 hourly simple moving average. There is a major contracting triangle forming with support near $57,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to start a fresh increase as long as there is no close below $56,500. Bitco...

Charted: Ripple (XRP) Skyrockets, Why Break Above $1 Seems Likely Reading Time: 2min read Ripple extended its rally above the $0.8000 resistance zone against the US Dollar. XRP price even tested $0.9500 and it is now consolidating gains. Ripple started a strong surge above the $0.8000 and $0.9000 levels against the US dollar. The price is now trading nicely above $0.8000 and the 100 simple moving average (4-hours). There was a break above a couple of bullish continuation patterns at $0.6000 and $0.7180 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair is now consoli...

TA: Bitcoin Settles Above 100 SMA, Why BTC Could Retest $60K Reading Time: 2min read Bitcoin price started a fresh increase and it cleared the $58,250 resistance against the US Dollar. BTC is now showing positive signs and it might soon revisit $60,000. Bitcoin started a fresh increase above the $58,000 and $58,250 resistance levels. The price is now trading nicely above $58,250 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $58,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now consolidating ...

Bitcoin price is consolidating gains above the $58,000 resistance against the US Dollar. BTC is likely to surge above the $59,500 and $60,000 resistance levels in the near term.