Video game retailer GameStop has announced that it will partner with FTX, one of the most popular crypto exchanges. Gamestop and FTX Form Partnership GameStop and FTX are joining forces….
Bitcoin traded close to $25,000 before it corrected lower against the US Dollar. BTC must stay above the $23,500 support to start another increase. Bitcoin started a fresh increase above the $24,000 resistance zone. The price is now trading above the $23,600 level and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $24,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now approaching a major support zone near $23,600 and $23,500. Bitcoin Price Corrects Lower Bitcoin price gained pace after there was a clear move above the $24,000 resistance zone. BTC broke the $24,200 level to move further into a positive zone. The price even climbed above the $24,500 level and traded close to the $25,000 level. A high was formed near $24,900 and the price started a downside correction. There was a move below the $24,500 support level. Besides, there was a break below a major bullish trend line with support near $24,000 on the hourly chart of the BTC/USD pair. Bitcoin price even traded below the 23.6% Fib retracement level of the upward move from the $22,686 swing low to $24,901 high. However, the price is now trading above the $23,600 level and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $24,200 level. Source: BTCUSD on TradingView.com The next key resistance is near the $24,500 zone. A close above the $24,500 resistance zone could start another increase. In the stated case, the price may perhaps test the $25,000 resistance. Dips Limited in BTC? If bitcoin fails to clear the $24,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $23,800 level and the 100 hourly SMA. It is near the 50% Fib retracement level of the upward move from the $22,686 swing low to $24,901 high. The next major support now sits near the $23,500 level. If the bears push the price below the $23,500 support level, there might be a move towards the $23,000 level. Any more losses might send the price towards $22,500 level. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $23,800, followed by $23,500. Major Resistance Levels – $24,200, $24,500 and $25,000.
Leading crypto exchange Coinbase has integrated a public decentralized altcoin network, Hedera (HBAR), into its listing roadmap. The development was confirmed in a blog post […]