• Bitcoin trades nearly 3% lower on Tuesday as sentiment remains weak.
  • 9,135.00 is the next key area of support identified on the chart.

BTC/USD 4-Hour Chart

Bitcoin is having a tough time at present as sentiment fails to turn once again on Tuesday.

The 4-Hour chart continues to make lower low and lower highs.

This could suggest a new Elliott wave pattern might be starting to move lower. 

A confirmation of this would be the break of 9,280.00.

The way we can tell it has begun is by the first lower high testing the 76.4% retracement level.

Now that level has been respected the next lower low wave could hit 9,135.00.

Beyond that 8,466.00 is the next Fibonacci support. The day the pattern can be negated is if the 10,030.00 resistance is taken out.

Only then can we say the pattern is invalid and the bull trend could resume.

Bitcoin Fibonacci

Additional Levels

BTC/USD

Overview
Today last price 9444.16
Today Daily Change -214.96
Today Daily Change % -2.23
Today daily open 9659.12
 
Trends
Daily SMA20 9912.19
Daily SMA50 9173.18
Daily SMA100 8259.77
Daily SMA200 8855.43
 
Levels
Previous Daily High 10027.5
Previous Daily Low 9479.72
Previous Weekly High 10307.33
Previous Weekly Low 9309.77
Previous Monthly High 9568.13
Previous Monthly Low 6856.63
Daily Fibonacci 38.2% 9688.97
Daily Fibonacci 61.8% 9818.25
Daily Pivot Point S1 9416.73
Daily Pivot Point S2 9174.33
Daily Pivot Point S3 8868.95
Daily Pivot Point R1 9964.51
Daily Pivot Point R2 10269.89
Daily Pivot Point R3 10512.29

 

 

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