Bitcoin Price Analysis: Bitcoin has moved higher but it failed to take out some key levels

Despite the spike higher BTC failed to take out some key levels.
BTC/USD trades 5.81% higher on Thursday as most of the majors received a boost.

Rajan Dhall, MSTA FX Daily

BTC/USD 60-minute chart

Bitcoin pushed higher earlier in the session but as you can see from the 1-hour chart below the asset failed to take out some key levels. BTC/USD did manage to spike through the trendline but it didn't manage to gather enough momentum to sustain the move.

Now the price is nestling around the 7K psychological level but is holding above the 200 period moving average. The RSI moved into overbought territory but since pulled back. There is the potential for another spike higher but as you can see from the volume histogram the buys seemed to have disappeared. If there is to be another break and test of the trendline then it would be good confirmation to see a rise in volume again at least to the level of the circle.

Additional levels

BTC/USD

Overview
Today last price	7013.04
Today Daily Change	391.02
Today Daily Change %	5.90
Today daily open	6622.02

Trends
Daily SMA20	6771.61
Daily SMA50	7040.16
Daily SMA100	8122.11
Daily SMA200	8022.24

Levels
Previous Daily High	6938.64
Previous Daily Low	6606.1
Previous Weekly High	7468.81
Previous Weekly Low	6681.12
Previous Monthly High	9215.51
Previous Monthly Low	3886.49
Daily Fibonacci 38.2%	6733.13
Daily Fibonacci 61.8%	6811.61
Daily Pivot Point S1	6505.86
Daily Pivot Point S2	6389.71
Daily Pivot Point S3	6173.32
Daily Pivot Point R1	6838.41
Daily Pivot Point R2	7054.8
Daily Pivot Point R3	7170.95

Author

Rajan Dhall, MSTA

FX Daily

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

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Bitcoin Price Analysis: Bitcoin has moved higher but it failed to take out some key levels