Bitcoin Daily Logo 01 800x500 - Daily Bitcoin Price Report September 15 — Price Consolidates Around $6500, Whales Starting To Come Out Again

Daily Bitcoin Price Report September 15 — Price Consolidates Around $6500, Whales Starting To Come Out Again

The 1-day range for BTC/USD is $6475.1 – $6526.5 — showing another squeeze, this time a bit higher than earlier this week. As the price tightens around $6500, that level will become a resistance for positive or negative price pressure. BTC price is currently up 1.5% in the last 7 days and down 7% in the last 14 days; a push that goes back to BTC’s price to $7250.

BTC didn’t have quite the bump that Etheruem did over the last two days; but ETH was likely bouncing from a dramatic sell-off of ICO-acquired ETH. BTC is still looking strong in market dominance and in keeping its levels above key numbers like $6250 and $6000.

Below we’ll examine Bitcoin Price news and technical analysis.

Bitcoin Price Headlines

Overstock Jumps Into The Bitcoin Game, Again

Novagratz Not Only One Calling For Bitcoin Rebound

  • “While the noted money manager attracted attention with his Twitter post on Thursday calling an end to this year’s collapse in the biggest cryptocurrency, a market reversal indicator that recognizes turning points says the selloff is overdone.”

Whales On The Move: Someone Transferred $193 Million in Bitcoin

  • “Crypto investors spent the better part of the early Thursday trying to understand the motive behind the movement of about 30,000 BTC from a huge wallet that’s also believed to contain a further  168,789 BTC. In fact, there wasn’t just one transaction spotted.”

BTC/USD Trading Technicals

The technicals for Bitcoin look like the beginning of August all over again—with nearly every signal at the SELL stage. This includes short and long term oscillators and moving averages—all of which point to an oversold and overvalued asset. Based on these, the technical signal is overwhelmingly on the SELL side.

Screen Shot 2018 09 15 at 1.30.40 PM - Daily Bitcoin Price Report September 15 — Price Consolidates Around $6500, Whales Starting To Come Out Again

BTC/USD Trading Charts

Our first chart shows a rising BTC hitting ceiling resistance at the $6615 level; a point which the chart’s author sees as a trial spot. If BTC can break this resistance it will move on to the next level. Failure to do so, however, could send the price back down to larger support levels at $5900 or so.

Bitcoin Important area by HamidFarhadi on TradingView.com

This second chart seems the same resistance level near $6615 or so; however this author sees further support levels that can keep propping BTC’s price up; showing a LONG play for BTC.

Bitcoin – The BIG Short Trap? Not So Fast by goldbug1 on TradingView.com

Bitcoin will need some positive news—which it’s getting a minor dose of with some mainstream publicitiy—to see a recovery. At this point, though, it is withstanding the crash of altcoins, particularly Ethereum and remaining a port in the storm that is the bear market. Still, how long can BTC handle the selling and shorting pressures? Analysis has the coin going down to the $6250 or $5900 area, which may happen before it can see any bounce back to $7000.

 

Eric is a cryptocurrency writer and editor. He has written on emerging technologies for over seven years and has accrued over 2 million page views. He also runs the paid Coin Agora community. He is currently working on his first novel, which involves a cryptocurrency start-up.

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