Bitcoin Price Analysis: BTC/USD eyes $15K, overbought conditions warrant caution


  • 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

 

BTC/USD

Overview
Today last price 13096.9
Today Daily Change 53.95
Today Daily Change % 0.41
Today daily open 13042.95
 
Trends
Daily SMA20 11731.49
Daily SMA50 11061.82
Daily SMA100 11091.81
Daily SMA200 9990.82
 
Levels
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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