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

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

Democrats win House and Senate in US midterms: Why isn’t all bad news for crypto

Democrats win House and Senate in US midterms: Why isn’t all bad news for crypto

The biggest story this week was Tuesday’s US midterm elections, which saw Democrats win control of both the House and the Senate in a clear blue wave. This political shift in the US has triggered sharp price swings across the cryptocurrency market.

Ripple nears oversold territory as traders eye buying opportunities

Ripple nears oversold territory as traders eye buying opportunities

Ripple remains structurally capped near $1.20 after selling pressure wiped out the early-week rise to $1.34, driven by the US midterm elections. Market participants exhibited regulatory concerns ahead of the Democrats taking control of Congress in January, with many repositioning and adjusting their portfolios.

Bitcoin Weekly Forecast: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin Weekly Forecast: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin is down over 3% this week, trading near $75,500 on Friday and heading for its fifth straight weekly loss. A sharp sell-off in US technology stocks reversed Bitcoin’s post-election rally on Thursday, triggering a wave of liquidations across the market and intensifying bearish pressure.

Post-US midterm elections market sell-off weighs on PI

Post-US midterm elections market sell-off weighs on PI

Pi Network (PI) continues to attract sellers, as the post-US midterm results triggered a sell-off in the US tech stock market and also wiped out over $1 billion from the crypto market.

Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin (BTC) remains under pressure, down over 3% this week, trading near $75,500 on Friday and heading for its fifth straight weekly loss. Persistent outflows from US-listed BTC spot Exchange Traded Funds (ETFs), a sharp sell-off in US technology stocks, and rising market liquidations are weighing on sentiment and limiting Crypto King’s recovery attempts.