{"id":9717,"date":"2020-01-04T03:30:02","date_gmt":"2020-01-04T03:30:02","guid":{"rendered":"http:\/\/emilynews.com\/blog\/?p=9717"},"modified":"2020-01-04T07:16:24","modified_gmt":"2020-01-04T07:16:24","slug":"news-commentary-963-arbitrage-invest-towards-the-7500-resistance-level","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=9717","title":{"rendered":"News Commentary #963 &#8211; Arbitrage Invest &#8211; BTC Towards the $7,500 Resistance Level?"},"content":{"rendered":"<p><a href=\"http:\/\/emilynews.com\/link.php?id=1334\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Arbitrage Invest (opens in a new tab)\" data-rich-text-format-boundary=\"true\">Arbitrage Invest<\/a> (reviewed <a href=\"http:\/\/emilynews.com\/blog\/?p=9533\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"here (opens in a new tab)\">here<\/a>) has just updated the Bitcoin Price Analysis after it dropped to ~$6,890 level and made a very quick increase towards ~$7,250, ~$7,300 levels again. Hopefully the information below will be useful for everyone..<\/p>\n<p><a href=\"http:\/\/emilynews.com\/link.php?id=1334\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-9493\" src=\"http:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/ai468.gif\" alt=\"\" width=\"468\" height=\"58\" \/><\/a><\/p>\n<p>Here\u2019s the update:<\/p>\n<blockquote class=\"wp-block-quote\"><p><strong>Bitcoin Just Reversed And Its Likely Heading $7,400<\/strong><\/p>\n<ul>\n<li>Bitcoin started a strong upward move from the $6,880 support area against the US Dollar.<\/li>\n<li>The price is reversing losses and it is now well above $7,100.<\/li>\n<li>There was a break above a key bearish trend line with resistance near $7,120 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The current technical structure suggests reversal signs towards the $7,500 resistance area.<\/li>\n<\/ul>\n<p>Bitcoin price is climbing with a bullish angle above $7,000 against the US Dollar. BTC is likely to accelerate higher if it clears the $7,260 resistance.<\/p>\n<p><strong>Bitcoin Price Analysis<\/strong><\/p>\n<p>Recently, there was a downside extension in bitcoin below the $7,100 and $7,000 support levels against the US Dollar. BTC price spiked towards the $6,880 support and traded to a new 2020 low at $6,863.<\/p>\n<p>However, the bulls took a stand, resulting in a sharp upward move above the $7,000 resistance. Besides, there was a break above the $7,080 resistance area. More importantly, there was a break above a key bearish trend line with resistance near $7,120 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The pair spiked above the 50% Fib retracement level of the downward move from the $7,530 high to $6,863 low. Though, the upward move was capped by the $7,260 resistance area.<\/p>\n<p>Additionally, the price is facing hurdles near the 61.8% Fib retracement level of the downward move from the $7,530 high to $6,863 low. Bitcoin is currently correcting lower below $7,200.<\/p>\n<p>On the downside, an initial support is near the $7,120 level and the broken trend line. The next major support is near the $7,080 level, below which the price is likely to resume its downtrend.<\/p>\n<p>Conversely, the price might continue to rise above the $7,260 resistance. The next major resistance is near the $7,400 level. An intermediate resistance is the 76.4% Fib retracement level of the downward move from the $7,530 high to $6,863 low.<\/p>\n<p>If the price continues to rise above $7,380 and $7,400, the next stop for the bulls may perhaps be $7,460 and $7,500. Any further gains could lead the price towards the $7,500 resistance area in the coming sessions.<\/p>\n<p>Bitcoin price is reversing losses above $7,100 and the 100 hourly SMA. If there is another surge above $7,260, it will most likely confirm a trend change and a fresh increase towards $7,500.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is currently gaining strength in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $7,120 followed by $7,080.<\/p>\n<p>Major Resistance Levels \u2013 $7,260, $7,380 and $7,460.<\/p><\/blockquote>\n<p>Below there is <a href=\"http:\/\/emilynews.com\/link.php?id=1334\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Arbitrage Invest (opens in a new tab)\" data-rich-text-format-boundary=\"true\">Arbitrage Invest<\/a> provided trading screenshot: <a href=\"https:\/\/i.ibb.co\/pWkzjj6\/20200103-114659.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" class=\"alignleft\" src=\"https:\/\/i.ibb.co\/pWkzjj6\/20200103-114659.jpg\" alt=\"\" width=\"100%\" height=\"auto\" \/><\/a><\/p>\n<p>*********************************<\/p>\n<p>If one of the paying programs on our Monitor appeals to you, please support <em>EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n<p>Telegram Chat for your Crypto and Hyip reports: <strong><a href=\"https:\/\/telegram.me\/HyipChatEN\" target=\"_blank\" rel=\"noopener noreferrer\">@HyipChatEN<\/a><\/strong><\/p>\n<p>*********************************<\/p>\n<p>Be the first to get most important HYIP news everyday!<br \/>\nSimply Follow <a href=\"https:\/\/www.facebook.com\/EmilyNewsOnline\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong style=\"text-decoration: underline;\">EN Facebook<\/strong><\/a>, <a href=\"https:\/\/telegram.me\/emilynews\" target=\"_blank\" rel=\"noopener noreferrer\"><strong style=\"color: #c03939; text-decoration: underline;\">EN Telegram<\/strong><\/a>, <a href=\"https:\/\/twitter.com\/EmilyHyipNews\" target=\"_blank\" rel=\"noopener noreferrer\"><strong style=\"text-decoration: underline;\">EN Twitter<\/strong><\/a><br \/>\nor Subscribe to <strong><a style=\"color: #c03939; text-decoration: underline;\" href=\"https:\/\/feedburner.google.com\/fb\/a\/mailverify?uri=Emilynews\" target=\"_blank\" rel=\"noopener noreferrer\">EN Feedburner<\/a><\/strong> and submit your email address!<\/p>\n<p>If you like this article, please share it by using the social media buttons below.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arbitrage Invest (reviewed here) has just updated the Bitcoin Price Analysis after it dropped to ~$6,890 level and made a very quick increase towards ~$7,250, ~$7,300 levels again. Hopefully the information below will be useful &hellip; <a title=\"News Commentary #963 &#8211; Arbitrage Invest &#8211; BTC Towards the $7,500 Resistance Level?\" class=\"exalt-read-more\" href=\"https:\/\/emilynews.com\/blog\/?p=9717\"><span class=\"screen-reader-text\">News Commentary #963 &#8211; Arbitrage Invest &#8211; BTC Towards the $7,500 Resistance Level?<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":9525,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[3594,3595,3597,3601,3598,3632,3669,3634],"class_list":["post-9717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-information","tag-arbitrage-invest","tag-arbitrage-invest-investment-plan","tag-arbitrage-invest-news","tag-arbitrage-invest-scam-or-paying","tag-arbitrage-invest-update","tag-arbitrageinvest-hyip","tag-bitcoin-price-update","tag-https-arbitrage-inv-com-refemilynews","exalt-entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>News Commentary #963 - Arbitrage Invest - BTC Towards the $7,500 Resistance Level? - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=9717\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"News Commentary #963 - Arbitrage Invest - BTC Towards the $7,500 Resistance Level? - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Arbitrage Invest (reviewed here) has just updated the Bitcoin Price Analysis after it dropped to ~$6,890 level and made a very quick increase towards ~$7,250, ~$7,300 levels again. 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