TRENDING:
Nonfarm Payrolls
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Bitcoin Price Analysis: BTC/USD bears take control, the price breaks below the SMA 20

  • BTC/USD is currently consolidating in a triangle formation.
  • The Elliott Oscillator has had five straight red sessions.
Bitcoin Price Analysis: BTC/USD bears take control, the price breaks below the SMA 20
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily chart

BTC/USD daily chart

BTC/USD fell from $6,876.98 to $6,712.75 this Wednesday as it continues to consolidate in a triangle formation. The bearish price action dropped BTC/USD below the SMA 20 curve. The upward trending line needs to hold firm to inhibit further price drop. The MACD indicates decreasing bullish momentum, while the Elliott Oscillator has had five straight red sessions.

Key levels

BTC/USD

Overview
Today last price6701.72
Today Daily Change-175.48
Today Daily Change %-2.55
Today daily open6877.2
 
Trends
Daily SMA206778.42
Daily SMA507093.84
Daily SMA1008133.51
Daily SMA2008031.31
 
Levels
Previous Daily High6990.17
Previous Daily Low6772.07
Previous Weekly High7468.81
Previous Weekly Low6681.12
Previous Monthly High9215.51
Previous Monthly Low3886.49
Daily Fibonacci 38.2%6906.86
Daily Fibonacci 61.8%6855.39
Daily Pivot Point S16769.46
Daily Pivot Point S26661.72
Daily Pivot Point S36551.36
Daily Pivot Point R16987.56
Daily Pivot Point R27097.91
Daily Pivot Point R37205.65


 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

More from Rajarshi Mitra
Share:

Editor's Picks

Ripple and Stellar outlook: XRP defends key support, XLM awaits breakout as derivatives strengthen

Ripple and Stellar outlook: XRP defends key support, XLM awaits breakout as derivatives strengthen

Ripple and Stellar show divergent technical outlooks as traders assess whether the recent weakness could give way to a recovery. XRP is finding support and defining a key support zone, while XLM slips below a cluster of Exponential Moving Averages.

Crypto Overview: Bitcoin holds steady, resonates with Gold – ARB, PYTH extend gains

Crypto Overview: Bitcoin holds steady, resonates with Gold – ARB, PYTH extend gains

Bitcoin price hovers above $77,000 on Thursday, losing bullish momentum as its correlation with Gold has risen to nearly 50% over the last 90 days. Arbitrum and Pyth Network recorded double-digit gains over the last 24 hours, emerging as top performers.

Bitcoin holds $63K and $86K range as profit-taking risk builds

Bitcoin holds $63K and $86K range as profit-taking risk builds

Bitcoin's recovery faces growing resistance as the market trades between a major accumulation zone below current prices and a dense concentration of potential supply overhead, according to a Glassnode report published Wednesday.

Robinhood Chain hits record daily fee revenue, boosts Arbitrum

Robinhood Chain hits record daily fee revenue, boosts Arbitrum

Robinhood Chain generated a record $3.75 million in daily fees on Tuesday, making it the third-highest of the day behind Uniswap (UNI) and Pons, according to data from DeFiLlama. The figure marked the network's fourth consecutive day of record daily fee revenue and its highest single-day total since launching its mainnet on July 1.
Bitcoin: Billions in ETF inflows push BTC toward decisive breakout

Bitcoin: Billions in ETF inflows push BTC toward decisive breakout

Bitcoin (BTC) extends gains so far this week, trading near $80,000 after testing the 50-week Simple Moving Average (SMA) at $81,114 earlier. Strong institutional demand is supporting the rally, with spot BTC Exchange Traded Funds (ETFs) on track to record a second consecutive week of billion-dollar inflows.