October 29, 2020

Bitcoin Price Analysis: BTC/USDT (hourly charts)

1 min read

Flash Alert: Tuesday 27th August

The price targets identified on our Flash Alert dated Monday 26th August remain in force. This Flash Alert is a follow up that takes a closer look at the hourly BTC/USDT charts to identify key technical targets you should be aware of over the next 24 hours.

  • The price of BTC/USDT at the time of writing was $10,177.49 on Binance. BTC/USDT traded between $10,051.08 and $10,391.08 so far today;
  • The daily chart suggests the overall uptrend still remains intact although over the last 24 hours selling pressure has re-emerged pushing BTC/USDT into narrow downward band, as seen on the 4 hour chart above;
  • Any increase over the next 24 hours will be met with renewed selling pressure between $10,275 and $10,330 with strong resistance at $10,400.
  • The bias over the next 24 hours appears tilted towards the downside. Any further BTC/USDT descent is likely to see support remerging between $9,950 and $9,970;
  • A follow up post to this Flash Alert may be found here.

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