- Bitcoin trades 5.64% higher on Thursday as the crypto space catches a bid.
- The previous wave high of 7466.00 has been broken and the price could move to higher levels.
BTC/USD 4-hour chart
Bitcoin moved higher today in a bullish move which saw BTC/USD take out the previous wave high of 7466.00. Now it seems the pair looks on its way to test the psychological 8K level. The level is planted between the 138.2% and 161.8% Fibonacci extension levels.
Looking closer at some of the technical indicators now and the price is still trading above both the 55 and 200 moving averages. The relative strength index indicator has now moved into overbought territory. This means we could see a small retracement before the trend continues in its upward trajectory. Another positive note is the volume spike marked by the circle at the bottom of the chart. It is good to see breakouts backed by good volume as its a good confirmation signal.
|Today last price||7530.88|
|Today Daily Change||393.82|
|Today Daily Change %||5.52|
|Today daily open||7137.06|
|Previous Daily High||7166.59|
|Previous Daily Low||6826.77|
|Previous Weekly High||7216.69|
|Previous Weekly Low||6466.49|
|Previous Monthly High||9215.51|
|Previous Monthly Low||3886.49|
|Daily Fibonacci 38.2%||7036.78|
|Daily Fibonacci 61.8%||6956.58|
|Daily Pivot Point S1||6920.36|
|Daily Pivot Point S2||6703.65|
|Daily Pivot Point S3||6580.53|
|Daily Pivot Point R1||7260.18|
|Daily Pivot Point R2||7383.3|
|Daily Pivot Point R3||7600|
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