TRENDING:
US CPI
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Bitcoin Price Analysis: BTC/USD pushing for big bull flag breakout

  • Bitcoin price is trading in positive territory, up 2.95% in the second half of the session. 
  • BTC/USD price action has been stuck within consolidation mode for going on eight sessions. 
  • The key for greater upside will be for a break down of the $9500 price barrier.
Bitcoin Price Analysis: BTC/USD pushing for big bull flag breakout
Ken ChigboKen ChigboIndependent Analyst

BTC/USD daily chart

The price is having some difficulty with breaking down the high area in November 2019, as noted above, 9200 - 9500 price range. 

                     

BTC/USD 60-minute chart

Price action has been narrowing within a range block formation via the 60-minute chart view. 

Spot rate:                9428.50

Relative change:     +2.90%

High:                        9271.40

Low:                         9150.00

BTC/USD

Overview
Today last price9414.57
Today Daily Change252.31
Today Daily Change %2.75
Today daily open9162.26
 
Trends
Daily SMA208925.47
Daily SMA508094.85
Daily SMA1008086.55
Daily SMA2008887.38
 
Levels
Previous Daily High9305.61
Previous Daily Low9078.29
Previous Weekly High9568.13
Previous Weekly Low8279.73
Previous Monthly High9568.13
Previous Monthly Low6856.63
Daily Fibonacci 38.2%9165.13
Daily Fibonacci 61.8%9218.77
Daily Pivot Point S19058.5
Daily Pivot Point S28954.74
Daily Pivot Point S38831.19
Daily Pivot Point R19285.81
Daily Pivot Point R29409.37
Daily Pivot Point R39513.13

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

Bitcoin Weekly Forecast: BTC retreats as macro headwinds grow

Bitcoin Weekly Forecast: BTC retreats as macro headwinds grow

Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.
XRP falls toward key support as macro uncertainty, weak momentum cap recovery

XRP falls toward key support as macro uncertainty, weak momentum cap recovery

Ripple (XRP) falls below $1.33 on Friday, marking the third consecutive day of declines. The token continues to track the broader cryptocurrency market downturn, with investors closely monitoring heightened macroeconomic uncertainty ahead of the United States (US) Consumer Price Index (CPI) release and next week’s Federal Reserve (Fed) monetary policy decision.
Crypto Today: Bitcoin, Ethereum, XRP stabilize at lower levels amid ETF outflows and macroeconomic risks

Crypto Today: Bitcoin, Ethereum, XRP stabilize at lower levels amid ETF outflows and macroeconomic risks

The broader cryptocurrency market is rising on Friday, with Bitcoin (BTC) trading above $77,000 after testing lower support near $76,500. Ethereum (ETH) shows signs of stability, hovering above the support provided at $2,400 despite capped upside at $2,500. Meanwhile, Ripple (XRP) holds above $1.33 after three straight days of declines, reflecting growing headwinds due to macroeconomic uncertainty.
Bitcoin pulls back as another golden cross fails to deliver

Bitcoin pulls back as another golden cross fails to deliver

Earlier this week, Bitcoin formed a golden cross, a technical signal that occurs when the price’s 50-day moving average rises above the 200-day moving average and is conventionally viewed as a precursor to a bullish rally. Historically, however, that’s often not been the case.
Bitcoin: BTC retreats as macro headwinds grow

Bitcoin: BTC retreats as macro headwinds grow

Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.