Creditbit Price Technical Analysis – CRBIT/BTC Recovering


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Key Highlights

  • Creditbit price recently fell further and traded towards 0.00070BTC level against Bitcoin where it found support.
  • There is now a connecting bullish trend line formed with support at 0.00080BTC on the 1-day chart of CRBIT/BTC (data feed from Worldcoinindex).
  • The price is currently trading higher and may continue to gain pace in the near term.

Creditbit price moved down towards 0.00070BTC recently against the Bitcoin, but later CRBIT/BTC got bid, and now moving higher with positive bias.

Creditbit Price Support

There were a few downside swings in Creditbit price towards 0.00080BTC and 0.00070BTC against the Bitcoin. The price was under a bearish pressure, resulting in a downside move until it found support at 0.00067BTC. Later, the price started a recovery, and managed to move back above the 0.00080BTC resistance. The price also moved above the 23.6% Fib retracement level of the last decline from the 0.00120BTC high to 0.00067BTC low.

It was a positive sign, and lifted the market sentiment. Later, the price managed to clear the 0.00085BTC resistance, and traded as high as 0.00095BTC. At the moment, there is a connecting bullish trend line formed with support at 0.00080BTC on the 1-day chart of CRBIT/BTC. It is holding the current trend well above the 0.00080BTC support. And, since the price is above the 38.2% Fib retracement level of the last decline from the 0.00120BTC high to 0.00067BTC low, it may rise further.

Creditbit Price Technical Analysis

However, the price need to break the 0.00095BTC in order to gain further strength. On the downside, we can keep an eye on the 0.00080BTC support. It can act as a pivot zone now if the price dips again in the near term.

Looking at the indicators:

Hourly MACD – The MACD for the CRBIT/BTC pair is moving positively in the bullish zone.

Hourly RSI – The RSI for the CRBIT/BTC pair is currently well above the 50 level, suggesting bullish moves.

Intraday Support Level – 0.00080BTC

Intraday Resistance Level – 0.00095BTC

Charts from Worldcoinindex

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.

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