TRENDING:
Oil price
XAU/USD
EUR/USD
Trade War
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

Ripple technical weakness persists as selling intensifies toward $1.00

Ripple technical weakness persists as selling intensifies toward $1.00

Ripple grinds lower, trading around $1.10 at the time of writing on Wednesday. The sticky bearish outlook mirrors the broader crypto market, with major coins such as Bitcoin and Ethereum facing weak demand as investors de-risk.

Crypto Today: Bitcoin, Ethereum, XRP face downside pressure amid investor de-risking

Crypto Today: Bitcoin, Ethereum, XRP face downside pressure amid investor de-risking

Major crypto assets trade under intense headwinds on Wednesday, as market participants navigate complex geopolitical and macroeconomic environments. Bitcoin has slipped toward $61,000 after its recent rebound was sold near $64,000, leaving buyers exhausted.

Bitcoin Price Forecast: Sticky inflation fears threaten deeper sell-off in BTC

Bitcoin Price Forecast: Sticky inflation fears threaten deeper sell-off in BTC

Bitcoin extends its decline on Wednesday, trading below $61,500 at the time of writing as renewed US-Iran tensions keep the risk sentiment capped. In addition, persistent capital outflows from US-listed spot Exchange Traded Funds continue to fuel selling pressure on BTC.

Pi Network extends decline as CEX outflows fail to offset bearish pressure

Pi Network extends decline as CEX outflows fail to offset bearish pressure

Pi Network edges lower on Wednesday, extending its third consecutive day of losses. The technical outlook for PI is largely bearish, with a risk of a steeper correction below $0.1184.

Bitcoin: After the bloodbath, everyone looks at $60,000

Bitcoin: After the bloodbath, everyone looks at $60,000

Bitcoin (BTC) hovers above $62,000 at the time of writing on Friday, weighed down by growing risk-off sentiment due to persistent geopolitical tensions in the Middle East and sticky macroeconomic uncertainty. The institutional sell-off continued to wreak havoc on capital flows, with spot Bitcoin Exchange-Traded Funds (ETFs) recording billions in outflows.