Bitcoin Price Analysis: BTC/USD near-term price action moving within bearish pennant


  • Bitcoin price is trading in minor positive, up some 0.10% in the second half of the session. 
  • BTC/USD continues to consolidate underneath $9000 barrier and on top of critical support $8500. 
  • The price range is narrowing which is likely to lead to an explosive breakout. 

 

BTC/USD daily chart

Consolidation via the daily continues to be observed, narrowing following the strong push higher last week. A barrier can be seen at the $9000 price mark, preventing further upside for now. 

BTC/USD 60-minute chart

Price action is moving within a bearish pennant structure, a breakout could be punishing.

 

Spot rate:                 8636.76

Relative change:      +0.10%

High:                         8677.14

Low:                          8589.69

BTC/USD

Overview
Today last price 8634.43
Today Daily Change 6.43
Today Daily Change % 0.07
Today daily open 8628
 
Trends
Daily SMA20 8095.6
Daily SMA50 7581.99
Daily SMA100 7953.25
Daily SMA200 9062.13
 
Levels
Previous Daily High 8734.79
Previous Daily Low 8507.45
Previous Weekly High 9010.95
Previous Weekly Low 7959.53
Previous Monthly High 7770.78
Previous Monthly Low 6432.05
Daily Fibonacci 38.2% 8594.3
Daily Fibonacci 61.8% 8647.95
Daily Pivot Point S1 8512.04
Daily Pivot Point S2 8396.08
Daily Pivot Point S3 8284.7
Daily Pivot Point R1 8739.38
Daily Pivot Point R2 8850.76
Daily Pivot Point R3 8966.72

 

 

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