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

Bitcoin Price Analysis: BTC/USD flirting with the critical $7000 mark which is trend defining

  • Bitcoin price is trading in positive territory, up 0.75% in the second half of the session. 
  • BTC/USD moving within consolidation sitting just above the big $7000 price mark.
  • The next price breakout is critical for the Bitcoin trend moving forwards.
Bitcoin Price Analysis: BTC/USD flirting with the critical $7000 mark which is trend defining
Ken ChigboKen ChigboIndependent Analyst

BTC/USD weekly chart

The price managed to close the week again in the green, marking the fifth consecutive one.

BTC/USD daily chart

A narrowing in the daily price action has been viewable for the last four sessions, with a breakout likely to be explosive. 

Spot rate:                6984.45

Relative change:     -1.95%

High:                       7223.22

Low:                        6917.61

BTC/USD

Overview
Today last price6981
Today Daily Change-148.38
Today Daily Change %-2.08
Today daily open7129.38
 
Trends
Daily SMA206953.07
Daily SMA506914.37
Daily SMA1008085.35
Daily SMA2008002.32
 
Levels
Previous Daily High7275.36
Previous Daily Low7063.14
Previous Weekly High7216.69
Previous Weekly Low6466.49
Previous Monthly High9215.51
Previous Monthly Low3886.49
Daily Fibonacci 38.2%7144.21
Daily Fibonacci 61.8%7194.29
Daily Pivot Point S17036.56
Daily Pivot Point S26943.74
Daily Pivot Point S36824.34
Daily Pivot Point R17248.78
Daily Pivot Point R27368.17
Daily Pivot Point R37460.99

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

More from Ken Chigbo
Share:

Editor's Picks

XRP slides amid a fragile crypto market structure

XRP slides amid a fragile crypto market structure

Ripple (XRP) falls for the second straight day, trading at $1.37 on Thursday. The broader cryptocurrency market remains fragile as investors weigh the impact of geopolitical tensions in the Middle East, which triggered persistent increases in Crude Oil prices while restricting shipping through the Straight of Hormuz and the Red Sea.
Bitcoin Price Forecast: BTC pressured amid ETF outflows, fresh US-Iran risks

Bitcoin Price Forecast: BTC pressured amid ETF outflows, fresh US-Iran risks

Bitcoin (BTC) remains under pressure, trading below $78,200 at the time of writing on Thursday after declining nearly 3% so far this week. Weakening institutional demand, along with escalating geopolitical tensions between the US and Iran near the Strait of Hormuz, continues to dampen risk appetite and weigh on the Crypto King. Institutional demand for Bitcoin shows early signs of caution.
Top Altcoins Price Forecast: Ripple, Solana, and Cardano risk deeper losses

Top Altcoins Price Forecast: Ripple, Solana, and Cardano risk deeper losses

Ripple (XRP), Solana (SOL), and Cardano (ADA) struggle to extend last month's advance, pointing to moderating buying pressure. The technical outlook for XRP, SOL, and ADA suggests a mild near-term bearish bias as momentum weakens. Ripple trades around $1.3800 at press time on Thursday, extending losses after a bearish close the previous day.
Crypto Today: Bitcoin, Ethereum and XRP lose bullish momentum as structural support holds

Crypto Today: Bitcoin, Ethereum and XRP lose bullish momentum as structural support holds

Cryptocurrency prices are moderating on Thursday, with Bitcoin (BTC) dropping to test the near-term $78,000 support. Altcoins, including Ethereum (ETH) and Ripple (XRP), are echoing Bitcoin’s cautious sentiment, with ETH retracing to approximately $2,470 and XRP to $1.38.
Bitcoin: Gearing up for a sharp move

Bitcoin: Gearing up for a sharp move

Bitcoin (BTC) is trading around $81,000 on Friday, up over 4% so far this week, and awaits a key catalyst that could determine its next directional move. Strong institutional demand is supporting the bullish price action, with spot BTC Exchange Traded Funds (ETFs) on track to record a third straight week of inflows.