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.

Rajan Dhall, MSTA FX 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.

Additional levels

BTC/USD

Overview
Today last price	8866.24
Today Daily Change	294.32
Today Daily Change %	3.43
Today daily open	8571.92

Trends
Daily SMA20	8540.23
Daily SMA50	7503.62
Daily SMA100	8003.5
Daily SMA200	8020.9

Levels
Previous Daily High	9176.84
Previous Daily Low	8187.24
Previous Weekly High	10074.48
Previous Weekly Low	8535.49
Previous Monthly High	9476.83
Previous Monthly Low	6156.67
Daily Fibonacci 38.2%	8565.27
Daily Fibonacci 61.8%	8798.81
Daily Pivot Point S1	8113.82
Daily Pivot Point S2	7655.73
Daily Pivot Point S3	7124.23
Daily Pivot Point R1	9103.42
Daily Pivot Point R2	9634.93
Daily Pivot Point R3	10093.02

Author

Rajan Dhall, MSTA

FX Daily

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

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BTC/USD daily chart

Additional levels

BTC/USD

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