Bitcoin Price Analysis: BTC/USD at risk of pull back to $8000

  • Bitcoin price is trading in minor positive, up some 1.10% in the second half of the session. 
  • BTC/USD continues to consolidate underneath $9000 barrier and on top of critical support $8500. 
  • The price range is narrowing which is likely to lead to an explosive breakout. 

BTC/USD weekly chart

Price action via the weekly chart view has remained generally bullish, running to the upside for five consecutive weeks. However weekly resistance should be noted at the $9000 mark. 

BTC/USD daily chart

Critical support at $8500 continues to be tested to the downside, as the price consolidates. Failure of the noted support would likely see a channel retest via the daily. 


Spot rate:                 8629.10

Relative change:      -1.05%

High:                         8791.32

Low:                          8602.36


Today last price 8631.87
Today Daily Change -89.03
Today Daily Change % -1.02
Today daily open 8720.9
Daily SMA20 8172.88
Daily SMA50 7610.28
Daily SMA100 7954.6
Daily SMA200 9051.58
Previous Daily High 8771.23
Previous Daily Low 8451.99
Previous Weekly High 9010.95
Previous Weekly Low 7959.53
Previous Monthly High 7770.78
Previous Monthly Low 6432.05
Daily Fibonacci 38.2% 8649.28
Daily Fibonacci 61.8% 8573.94
Daily Pivot Point S1 8524.84
Daily Pivot Point S2 8328.79
Daily Pivot Point S3 8205.6
Daily Pivot Point R1 8844.09
Daily Pivot Point R2 8967.28
Daily Pivot Point R3 9163.34



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