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BTC/USD technical analysis: Bitcoin making another attempt at the 8,400.00 mark

BTC/USD daily chart

Bitcoin (BTC/USD) bulls tried to reclaim prices above 8,400.00 but they got overwhelmed by sellers as the market created a double top and an inside bar, suggesting potential weakness ahead.

BTC/USD 4-hour chart 

BTC/USD is consolidating below the 8,000.00 figure and just above the 50 SMA. If bears break 7,500.00 support the market can keep dropping towards the 6,500.00 swing low. On the flip side, a break above the 8,400.00 can send the cryptocurrency towards the 8,800.00 level.


Additional key levels

BTC/USD

Overview
Today last price 7731.31
Today Daily Change -465.56
Today Daily Change % -5.68
Today daily open 8196.87
 
Trends
Daily SMA20 6594.89
Daily SMA50 5702.33
Daily SMA100 4773.42
Daily SMA200 4528.76
Levels
Previous Daily High 8304.28
Previous Daily Low 7253.29
Previous Weekly High 8384.67
Previous Weekly Low 6512.15
Previous Monthly High 5632.53
Previous Monthly Low 4052.2
Daily Fibonacci 38.2% 7902.81
Daily Fibonacci 61.8% 7654.77
Daily Pivot Point S1 7532.02
Daily Pivot Point S2 6867.16
Daily Pivot Point S3 6481.02
Daily Pivot Point R1 8583.01
Daily Pivot Point R2 8969.14
Daily Pivot Point R3 9634

 

 

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