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Bitcoin Price Analysis: BTC/USD pushes higher to flirt with 9K once again

  • Bitcoin has risen after Monday's halving event but not as much as touted by some analysts.
  • There have been some buyers ahead of the 8K level on the downside.
Bitcoin Price Analysis: BTC/USD pushes higher to flirt with 9K once again
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

BTC/USD daily chart

Bitcoin has pushed over 3.5% higher on Tuesday after Monday's halving event. The price had been anticipated to shoot higher by some analysts. Although there was no rocketing price the move higher in today's session has not been too shabby. 

On a technical note, the price found some support just ahead of the 8K level and before the two key 55 exponential and 200 simple moving averages. The bulls will now be looking to see if the 10K resistance can be taken out. The two aforementioned moving averages might also cross over in a bullish fashion. 

The volume has also risen but interestingly it picked up during the sell-off. The relative strength index is also still looking bullish above the 50 mid-point. There is also space for a move back into the overbought zone as the signal line has moved south. 

Bitcoin pushes up after halving

Additional levels

BTC/USD

Overview
Today last price8866.24
Today Daily Change294.32
Today Daily Change %3.43
Today daily open8571.92
 
Trends
Daily SMA208540.23
Daily SMA507503.62
Daily SMA1008003.5
Daily SMA2008020.9
 
Levels
Previous Daily High9176.84
Previous Daily Low8187.24
Previous Weekly High10074.48
Previous Weekly Low8535.49 
Previous Monthly High9476.83
Previous Monthly Low6156.67
Daily Fibonacci 38.2%8565.27
Daily Fibonacci 61.8%8798.81
Daily Pivot Point S18113.82
Daily Pivot Point S27655.73
Daily Pivot Point S37124.23
Daily Pivot Point R19103.42
Daily Pivot Point R29634.93
Daily Pivot Point R310093.02

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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