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.

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. 

Bitcoin fails to capitalise

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

 

 

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