- BTC/USD well-positioned to take on the $15K mark.
- A potential bull flag spotted on the daily chart.
- Overbought RSI warrants a pullback before the uptrend resumes.
Bitcoin (BTC/USD) is back in the green zone above the 13,000 level this Monday, reversing a temporary reversal seen on Sunday. The No. 1 coin is seen testing daily highs, looking to retest Sunday’s high of 13,359.
From a short-term perspective, the spot is primed for a fresh rally towards the 15,000 mark, as the consolidation following the latest surge has carved out a bull flag pattern on the daily sticks.
A daily closing above the rising trendline resistance placed at 13,379 could confirm the bullish breakout.
However, the 14-day Relative Strength Index (RSI) remains highly overbought, around 79.20, suggesting that a corrective pullback cannot be ruled out before the bulls regain the upside momentum.
Should the bulls fail to defend the rising trendline support at 12,681 on a daily closing basis, the pattern will get invalidated.
Further south, the bullish 21-daily moving average (DMA) at 11,797 will be back on the sellers’ radars.
BTC/USD: Daily chart
BTC/USD: Additional levels to watch
|Today last price||13096.9|
|Today Daily Change||53.95|
|Today Daily Change %||0.41|
|Today daily open||13042.95|
|Previous Daily High||13358.99|
|Previous Daily Low||12901.29|
|Previous Weekly High||13245.61|
|Previous Weekly Low||11353.69|
|Previous Monthly High||12072.72|
|Previous Monthly Low||9829.75|
|Daily Fibonacci 38.2%||13076.13|
|Daily Fibonacci 61.8%||13184.15|
|Daily Pivot Point S1||12843.17|
|Daily Pivot Point S2||12643.38|
|Daily Pivot Point S3||12385.47|
|Daily Pivot Point R1||13300.86|
|Daily Pivot Point R2||13558.78|
|Daily Pivot Point R3||13758.56|
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