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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.

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