• 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. 

Bitcoin $300 drop

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.

Bitcoin Trendline Support

Additional levels

BTC/USD

Overview
Today last price 8552.11
Today Daily Change -175.32
Today Daily Change % -2.01
Today daily open 8727.43
 
Trends
Daily SMA20 8454.34
Daily SMA50 7448.58
Daily SMA100 8011.57
Daily SMA200 8019.1
 
Levels
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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