- Over the last four sessions, Bitcoin fell as much as 15% as sentiment turns.
- The digital gold found support at 8,500 but the losses might not be over just yet.
BTC/USD 10-min chart
The price has been very choppy today as the chart below shows. There has been a pullback, but as soon as the price hit 9182.66, the market turned and fell in two stages.
The 8500.00 level provided the market with some support even though the price dipped through. It seems like some participants are banking some profits as BTC heads toward the halving event on Monday.
On the higher timeframes, there is no doubt the market is still in an uptrend. The 10K level just seemed like too much of a mountain to climb for now.
BTC/USD 4-hour chart
On the 4-hour timeframe below it can be seen that the BTC/USD pair stopped exactly at the trendline. This support zone is still vulnerable so let's see how the market closed at the end of the day (Monday) to confirm if there is a technical break to the downside.
|Today last price||8552.11|
|Today Daily Change||-175.32|
|Today Daily Change %||-2.01|
|Today daily open||8727.43|
|Previous Daily High||9559.74|
|Previous Daily Low||8105.58|
|Previous Weekly High||10074.48|
|Previous Weekly Low||8535.49|
|Previous Monthly High||9476.83|
|Previous Monthly Low||6156.67|
|Daily Fibonacci 38.2%||8661.07|
|Daily Fibonacci 61.8%||9004.25|
|Daily Pivot Point S1||8035.43|
|Daily Pivot Point S2||7343.42|
|Daily Pivot Point S3||6581.26|
|Daily Pivot Point R1||9489.59|
|Daily Pivot Point R2||10251.75|
|Daily Pivot Point R3||10943.75|
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