Bitcoin Price Analysis: BTC uptrend eyes 2018 top despite overbought RSI


  • BTC/USD eases from the intraday high, keeps upside break of 33-month-old rising trend line.
  • Overbought RSI suggests corrective pullback towards Friday’s top.

BTC/USD drops to 16,759 during early Tuesday. Even so, the Crypto major prints 0.18% intraday gains while nearing the highest levels since January 2018, flashed last week.

Although overbought RSI conditions on the weekly chart suggest the pair’s corrective pullback towards Friday’s high near 16,490, any further declines are less likely.

Also acting as the key downside support is an ascending trend line from late-February 2018, currently around 16,040 and the 16,000 round-figures.

Alternatively, the 17,000 round-figure can offer immediate resistance to the quote ahead of lighting the highs marked during early 2018, surrounding 17,200.

In a case where the BTC/USD bulls stay positive beyond 17,200, the year 217 peak surrounding 19,800 could return to the chart.

BTC/USD weekly chart

Trend: Bullish

Additional important levels

Overview
Today last price 16819.07
Today Daily Change 95.15
Today Daily Change % 0.57%
Today daily open 16723.92
 
Trends
Daily SMA20 14948.09
Daily SMA50 12918.11
Daily SMA100 12018.37
Daily SMA200 10814.97
 
Levels
Previous Daily High 16891.33
Previous Daily Low 15879.31
Previous Weekly High 16490.58
Previous Weekly Low 14729.64
Previous Monthly High 14089.91
Previous Monthly Low 10376.73
Daily Fibonacci 38.2% 16504.74
Daily Fibonacci 61.8% 16265.9
Daily Pivot Point S1 16105.04
Daily Pivot Point S2 15486.16
Daily Pivot Point S3 15093.01
Daily Pivot Point R1 17117.06
Daily Pivot Point R2 17510.21
Daily Pivot Point R3 18129.09

 

 

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