Creditbit price struggled against the US Dollar and Bitcoin, and it looks like CRBIT/BTC may move down to form a new low in the near term.
In the last analysis, we discussed signs of a solid recovery if Creditbit price stays above 0.00045BTC against the Bitcoin. The price did gain pace and moved higher towards 0.00060BTC. However, the upside move could not last long above 0.00060BTC. The main reason was a sold rise in Bitcoin price, putting pressure on buyers for declines. There was a solid resistance near the 50% Fib retracement level of the last decline from the 0.00072BTC high to 0.00045BTC low.
Similarly, Creditbit price against the US Dollar made an upside move towards $1.05 where it faced offers and started to move down once again. When we look at the 7-day chart of CRBIT/BTC, there is an important bearish trend line with resistance at 0.00048BTC. The pair recently broke a major bullish trend line at 0.00050BTC. So, it is likely to remain under pressure below 0.00050BTC.
Hourly MACD – The MACD for the CRBIT/BTC pair is back in the bearish zone, and struggling
Hourly RSI – The RSI for the CRBIT/BTC pair is now well below the 50 level.
Intraday Support Level – 0.00040BTC
Intraday Resistance Level – 0.00050BTC
Charts from Coinmarketcap
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.
The sun has returned on London streets as Boris Johnson, the unelected British Prime Minister, once again covers our TV… Read More
A Los Angeles man has plead guilty to a multi-million money laundering scheme. | Source: Shutterstock By CCN Markets :… Read More
If you are looking for ways to speculate on cryptocurrencies, then I am sure you have thought about signing up… Read More
In just around nine months, Bitcoin (BTC) will see its next block reward reduction — dubbed “halving”. Despite this rapidly… Read More
Share Tweet Send Share Just a week after the bitcoin genesis block in January 2009, computer scientist Hal Finney published… Read More