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

Bitcoin Price Analysis: BTC/USD retreats from $10,000 after a brief flirtation

  • The overall market sentiment remains bullish as investors consolidate their positions pre-halving.
  • The RSI indicator has gone up further in the overbought zone and is hovering around 78.05.
Bitcoin Price Analysis: BTC/USD retreats from $10,000 after a brief flirtation
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily chart

BTC/USD daily chart

BTC/USD fell down from $10,000 to $9,910 in the early hours of Friday as the bears stepped in to correct the price following a heavily bullish Thursday. This Thursday, the price jumped from $9,158.30 to $10,000 as the bulls continued to consolidate their positions pre-halving and crept above the 20-day Bollinger Band. The RSI indicator is trending around 78 within the overbought zone suggesting that the price is currently overvalued and a short-term bearish correction is expected. The MACD indicates increasing bullish market momentum.

Key levels

BTC/USD

Overview
Today last price9924.01
Today Daily Change-78.73
Today Daily Change %-0.79
Today daily open10002.74
 
Trends
Daily SMA208112.11
Daily SMA507258.84
Daily SMA1008012.04
Daily SMA2007999.5
 
Levels
Previous Daily High10074.48
Previous Daily Low9032.48
Previous Weekly High9476.83
Previous Weekly Low7491.5
Previous Monthly High9476.83
Previous Monthly Low6156.67
Daily Fibonacci 38.2%9676.44
Daily Fibonacci 61.8%9430.53
Daily Pivot Point S19331.98
Daily Pivot Point S28661.23
Daily Pivot Point S38289.98
Daily Pivot Point R110373.99
Daily Pivot Point R210745.24
Daily Pivot Point R311415.99

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

More from Rajarshi Mitra
Share:

Editor's Picks

Cardano Price Forecast: Weak momentum puts ADA recovery at risk

Cardano Price Forecast: Weak momentum puts ADA recovery at risk

Cardano is trading below $0.222 on Thursday after failing to sustain gains above the 50-day Exponential Moving Average near $0.228 the previous day. Weakening derivatives metrics and fading bullish momentum continue to weigh on sentiment, while a break below the 100-day EMA could push ADA lower. Derivatives data shows a cautious outlook for Cardano.

Ripple and Stellar outlook: XRP and XLM recovery stalls below EMAs

Ripple and Stellar outlook: XRP and XLM recovery stalls below EMAs

Ripple and Stellar remain under pressure on Thursday as both struggle to sustain their recent recovery attempts. XRP trades below $1.36, while XLM slips beneath $0.183, as mixed derivatives metrics, weakening momentum indicators and heating market conditions suggest cautious market sentiment. Derivatives data shows weakening conditions for Ripple and Stellar.

Zcash Price Forecast: ZEC reclaims $1,300 as ETF inflow hits 30-day high

Zcash Price Forecast: ZEC reclaims $1,300 as ETF inflow hits 30-day high

Zcash price hovers above $1,300 on Thursday, sustaining its 15% gains so far this week with three straight days of recovery. Institutional and retail appeal is returning, with over $15 million in inflows recorded on Wednesday and ZEC futures Open Interest rising to a 30-day high of $2.89 billion. The technical outlook for ZEC indicates an upside bias as recovery gains traction.

Bitcoin derivatives improve, but $87,000 sell wall looms

Bitcoin derivatives improve, but $87,000 sell wall looms

Bitcoin (BTC) showed signs of recovery on Wednesday as derivatives positioning improved, but sell risk grew between $86,500 and $87,500, where sell orders and leveraged liquidation clusters could limit further gains.
Bitcoin: Macroeconomic headwinds, cooling demand cap BTC gains

Bitcoin: Macroeconomic headwinds, cooling demand cap BTC gains

Bitcoin (BTC) extends losses this week, trading below $82,500 as of Friday as selling pressure continues. Weakening institutional demand supports this pullback as BTC spot Exchange-Traded Funds (ETFs) are on track to record a two-week withdrawal streak, reaching $146.19 million in net outflows through Thursday.