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Bitcoin intraday price analysis

  • Bitcoin is trading flat for the session after rejecting the top of the chart pattern.
Bitcoin intraday price analysis
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

BTC/USD 10-Minute Chart

The BTC/USD price has bounced off the top of the chart pattern shown below.

This does not mean the pattern will not break in the future but at the moment it is providing some resistance.

If the price is to break lower it will have to break the bear flag type pattern within the overall triangle. 

It seems that the price could well move lower following the rejection of the pattern top and the two bar reversal candle formation.

Although on the daily chart the is a glimmer of hope for the bulls as it looks like a base is forming.

Bitcoin analysis

Additional Levels

BTC/USD

Overview
Today last price7396.52
Today Daily Change3.64
Today Daily Change %0.05
Today daily open7392.88
 
Trends
Daily SMA207582.56
Daily SMA508239.55
Daily SMA1008822.59
Daily SMA2009380.84
 
Levels
Previous Daily High7491.79
Previous Daily Low7154.88
Previous Weekly High7868.08
Previous Weekly Low6526.82
Previous Monthly High9580.19
Previous Monthly Low6526.82
Daily Fibonacci 38.2%7363.09
Daily Fibonacci 61.8%7283.58
Daily Pivot Point S17201.24
Daily Pivot Point S27009.61
Daily Pivot Point S36864.33
Daily Pivot Point R17538.15
Daily Pivot Point R27683.42
Daily Pivot Point R37875.06

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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