Bitcoin Price Analysis: BTC stalls at 7K but there are still some bullish signs


  • Bitcoin trades 1.17% lower and stalls once again ahead of 7K.
  • The MACD and price trend are still showing positive signs on the hourly chart.

BTC/USD 1-hour chart

Bitcoin is trading 1.17% lower in the session on Friday as buying momentum stalls. There are some positive signals on the chart as the MACD looks like it is turning higher. In addition to this, the price is still making higher lows even as the 7K level has not been broken. The 55 exponential moving average has also been taken out now which is another bullish sign. 

The overall trend for Bitcoin is still lower on the higher timeframes so taking short trades is tough. It feels like the whole market is in a consolidation phase at the moment with most of the coins forming consolidation tops. Moving forward a break of 7K would be a very bullish scenario and as the price edges closer, bulls will be waiting in anticipation. 

Bitcoin Hourly Uptrend

Additional levels

BTC/USD

Overview
Today last price 6679.64
Today Daily Change -78.60
Today Daily Change % -1.16
Today daily open 6758.24
 
Trends
Daily SMA20 6428.36
Daily SMA50 8290.2
Daily SMA100 8222.54
Daily SMA200 8349.74
 
Levels
Previous Daily High 6795.01
Previous Daily Low 6524.78
Previous Weekly High 6951.22
Previous Weekly Low 4437.02
Previous Monthly High 10511.86
Previous Monthly Low 8431.17
Daily Fibonacci 38.2% 6691.78
Daily Fibonacci 61.8% 6628
Daily Pivot Point S1 6590.34
Daily Pivot Point S2 6422.44
Daily Pivot Point S3 6320.11
Daily Pivot Point R1 6860.57
Daily Pivot Point R2 6962.91
Daily Pivot Point R3 7130.81

 

 

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