Bitcoin Price Analysis: BTC/USD bulls eke out an advantage as price hugs along the 20-day Bollinger Band upper curve

MACD and the Elliott Oscillator both show increasing bullish sentiment.
The bulls must aim to take the price above the $7,960 for it to trend above the SMA 200.

Rajarshi Mitra Independent Analyst

BTC/USD daily chart

BTC/USD managed to chart a seventh straight bullish as the price went up slightly from $7,704.33 to $7,753.68 this Monday. The price is currently encountering resistance at the upper curve of the 20-day Bollinger Band. To continue the upward movement, the bulls will need to aim for the $7,960-level to break above the SMA 200 curve. Following that, the bulls must overcome resistance at $8,190.80 to continue the upward momentum. Both the MACD and the Elliott Oscillator indicate increasing bullish market sentiment.

Key levels

BTC/USD

Overview
Today last price	7759.39
Today Daily Change	55.06
Today Daily Change %	0.71
Today daily open	7704.33

Trends
Daily SMA20	7126.13
Daily SMA50	6694.52
Daily SMA100	8000.81
Daily SMA200	7970.76

Levels
Previous Daily High	7712.94
Previous Daily Low	7491.5
Previous Weekly High	7765.01
Previous Weekly Low	6754.64
Previous Monthly High	9215.51
Previous Monthly Low	3886.49
Daily Fibonacci 38.2%	7628.35
Daily Fibonacci 61.8%	7576.09
Daily Pivot Point S1	7559.58
Daily Pivot Point S2	7414.82
Daily Pivot Point S3	7338.13
Daily Pivot Point R1	7781.02
Daily Pivot Point R2	7857.7
Daily Pivot Point R3	8002.46

Author

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.

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Bitcoin Price Analysis: BTC/USD bulls eke out an advantage as price hugs along the 20-day Bollinger Band upper curve