TRENDING:
Trade War
XAU/USD
Silver
EUR/USD
GBP/USD
USD/CAD
AUD/USD
Sponsored by
Login
|

Bitcoin Price Analysis: BTC rejects technical level and breaks down

  • Bitcoin pulled back from a long term trendline.
  • BTC/USD has just turned positive after trading lower for most of the session.
Bitcoin Price Analysis: BTC rejects technical level and breaks down
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

BTC/USD daily chart

Bitcoin had a massive Wednesday jumping over 13%. On Thursday, the market moved higher earlier in the session but since it dropped lower to hit a session low of 8,407.00. Now the price is trading just above flat and the bulls could be taking control again.

The price stopped at a key technical level. Looking at the chart the black trendline had been rejected and the price also stopped at the blue horizontal line at 9,152.00. Although it is not on the chart the price line is also close to the 50% Fibonacci level.

Now it is up to the bulls and bears to fight it out for dominance over this market. The bulls have the longer-term control as the market continues to make higher lows and higher highs. But this level does seem strong and it may take some decent volume to crack it.

Bitcoin hits technical resistance

Additional levels

BTC/USD

Overview
Today last price8853.22
Today Daily Change62.56
Today Daily Change %0.71
Today daily open8790.66
 
Trends
Daily SMA207249.78
Daily SMA506704.11
Daily SMA1007981.83
Daily SMA2007967.54
 
Levels
Previous Daily High8978.23
Previous Daily Low7721.44
Previous Weekly High7765.01
Previous Weekly Low6754.64
Previous Monthly High9215.51
Previous Monthly Low3886.49
Daily Fibonacci 38.2%8498.13
Daily Fibonacci 61.8%8201.53
Daily Pivot Point S18015.32
Daily Pivot Point S27239.98
Daily Pivot Point S36758.53
Daily Pivot Point R19272.11
Daily Pivot Point R29753.57
Daily Pivot Point R310528.91

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

More from Rajan Dhall, MSTA
Share:

Editor's Picks

Sonic Labs’ vertical integration fuels recovery in S token

Sonic Labs’ vertical integration fuels recovery in S token

Sonic, previously Fantom (FTM), is extending its recovery trade at $0.048 at the time of writing, after rebounding by over 12% the previous day. The recovery thesis’ strengths lie in the optimism surrounding Sonic Labs’ Wednesday announcement to shift to a vertically integrated model, aimed at boosting S token utility. 

Midnight Price Forecast: NIGHT warms up as Hoskinson reveals March mainnet release

Midnight Price Forecast: NIGHT warms up as Hoskinson reveals March mainnet release

Midnight edges higher by 2% at press time on Thursday, driven by its founder announcing the mainnet release by late March at the Consensus 2026 event. The technical outlook for Midnight highlights a potential bottom formation that could ignite the next bullish trend.

Cardano Price Forecast: ADA eyes short-term rebound as derivatives sentiment improves

Cardano Price Forecast: ADA eyes short-term rebound as derivatives sentiment improves

Cardano (ADA) is trading at $0.257 at the time of writing on Thursday, after slipping more than 4% so far this week. Derivatives sentiment improves as ADA’s funding rates turn positive alongside rising long bets among traders.

Top Crypto Gainers: Pippin rally logs over 75% gains, Aster and Kaia push higher

Top Crypto Gainers: Pippin rally logs over 75% gains, Aster and Kaia push higher

Altcoins, such as Pippin (PIPPIN), Aster (ASTER) and Kaia (KAIA) continue to trade in the green, defying the broader market pullback as Bitcoin (BTC) dropped to below $68,000. PIPPIN continues to rally and ASTER and KAIA show short-term recovery with possibilities of a breakout rally.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: The worst may be behind us

Bitcoin: The worst may be behind us

Bitcoin (BTC) price recovers slightly, trading at $65,000 at the time of writing on Friday, after reaching a low of $60,000 during the early Asian trading session. The Crypto King remained under pressure so far this week, posting three consecutive weeks of losses exceeding 30%.