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.

Ken Chigbo Independent 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 price	6981
Today Daily Change	-148.38
Today Daily Change %	-2.08
Today daily open	7129.38

Trends
Daily SMA20	6953.07
Daily SMA50	6914.37
Daily SMA100	8085.35
Daily SMA200	8002.32

Levels
Previous Daily High	7275.36
Previous Daily Low	7063.14
Previous Weekly High	7216.69
Previous Weekly Low	6466.49
Previous Monthly High	9215.51
Previous Monthly Low	3886.49
Daily Fibonacci 38.2%	7144.21
Daily Fibonacci 61.8%	7194.29
Daily Pivot Point S1	7036.56
Daily Pivot Point S2	6943.74
Daily Pivot Point S3	6824.34
Daily Pivot Point R1	7248.78
Daily Pivot Point R2	7368.17
Daily Pivot Point R3	7460.99

Author

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