Bitcoin Price Analysis: BTC refreshes record high above 37,000

  • BTC/USD remains on the bids for the third consecutive day as it refreshes the record top.
  • Bulls cheer sustained trading above 10-day SMA, three-week-old rising channel.

BTC/USD buyers are unstoppable as they poke 37,300 during early Thursday. The crypto leader has been on the north-run since mid-December and gained further acceptance after recently crossing the resistance line of a short-term ascending trend channel.

Other than the successful trading above the stated channel and 10-day SMA, bullish MACD also favors BTC/USD upside.

That said, the quote is for the 37,500 and the 38,000 round-figures as immediate targets ahead of challenging the 40,000 psychological magnet.

However, the bulls are likely to be probed as RSI conditions are overbought, which in turn requires a cautious favor to the further buying.

On the contrary, a downside break of the stated channel’s upper line, at 33,285 now, can recall short-term BTC/USD sellers.

Though, a clear downside break of 10-day SMA and the channel support, respectively around 32,000 and 29,060, will be needed to open doors for the bears.

BTC/USD daily chart

Trend: Bullish

Additional important levels

Today last price 37260.2
Today Daily Change 396.84
Today Daily Change % 1.08%
Today daily open 36863.36
Daily SMA20 27566.85
Daily SMA50 22339.05
Daily SMA100 17698.46
Daily SMA200 14094.82
Previous Daily High 37009.6
Previous Daily Low 33356.65
Previous Weekly High 29683.91
Previous Weekly Low 25771.59
Previous Monthly High 29307.4
Previous Monthly Low 17578.63
Daily Fibonacci 38.2% 35614.17
Daily Fibonacci 61.8% 34752.08
Daily Pivot Point S1 34476.81
Daily Pivot Point S2 32090.26
Daily Pivot Point S3 30823.86
Daily Pivot Point R1 38129.76
Daily Pivot Point R2 39396.15
Daily Pivot Point R3 41782.7



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