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Bitcoin Price Analysis: BTC/USD bears are in the driving seat

  • Bitcoin price is trading in minor positive territory, up 0.30% in the second half of the session. 
  • BTC/USD bears are in full force driving the price towards its third consecutive session in the red.
  • Following eight sessions of consolidation, the bears are taking back control. 
Bitcoin Price Analysis: BTC/USD bears are in the driving seat
Ken ChigboKen ChigboIndependent Analyst

BTC/USD daily chart

The breached $8500 support will now likely act as a touch barrier of resistance. 

BTC/USD 60-minute chart

Price action broke out to the downside of a bearish pennant, the bulls are making a push back above, with a retest of $8500 eyed. 

Spot rate:                8414.00

Relative change:     +0.30%

High:                        8430.19

Low:                         8217.48

BTC/USD

Overview
Today last price8401.92
Today Daily Change16.96
Today Daily Change %0.20
Today daily open8384.96
 
Trends
Daily SMA208311.06
Daily SMA507661.23
Daily SMA1007959.29
Daily SMA2009021.22
 
Levels
Previous Daily High8663.76
Previous Daily Low8279.28
Previous Weekly High9010.95
Previous Weekly Low7959.53
Previous Monthly High7770.78
Previous Monthly Low6432.05
Daily Fibonacci 38.2%8426.15
Daily Fibonacci 61.8%8516.89
Daily Pivot Point S18221.57
Daily Pivot Point S28058.18
Daily Pivot Point S37837.09
Daily Pivot Point R18606.05
Daily Pivot Point R28827.15
Daily Pivot Point R38990.53

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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