- BTC/USD refreshed all-time high above $58,000 during the week, bounces off intraday low.
- MACD turns bearish as sellers attack three-day-old support line.
- Bulls need to conquer immediate resistance line before eyeing the $60,000 threshold.
BTC/USD wavers around $57,000 while consolidating the weekend run-up to the fresh high on record, to $58,355. In doing so, the quote bounces off an immediate ascending trend line from Friday.
While favoring further consolidation, the MACD flashes the first bearish signal in the last three days.
As a result, Bitcoin may witness a pullback towards the one-week-old support line, at $54,300 now, if it drops below $56,200 immediate support.
However, even the short-term BTC/USD bulls are less likely to be turned down unless the quote stays above the 50-bar SMA level of $51,890.
Alternatively, the latest high near $58,300 and an immediate resistance line around $58,550 can restrict the quote’s short-term upside even as the BTC/USD buyers keep having $60,000 on the table for long.
BTC/USD four-hour chart
Trend: Pullback expected
Additional important levels
|Today last price||56962.25|
|Today Daily Change||-526.09|
|Today Daily Change %||-0.92%|
|Today daily open||57488.34|
|Previous Daily High||58355.76|
|Previous Daily Low||55532.48|
|Previous Weekly High||56348.35|
|Previous Weekly Low||45855.52|
|Previous Monthly High||41987.21|
|Previous Monthly Low||27772|
|Daily Fibonacci 38.2%||57277.26|
|Daily Fibonacci 61.8%||56610.97|
|Daily Pivot Point S1||55895.29|
|Daily Pivot Point S2||54302.24|
|Daily Pivot Point S3||53072.01|
|Daily Pivot Point R1||58718.58|
|Daily Pivot Point R2||59948.81|
|Daily Pivot Point R3||61541.86|
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