Bitcoin Price Analysis: BTC/USD trends in an upward channel but struggles to cross over SMA 50

  • BTC/USD fell from $7,371 to $7,295 this Thursday.
  • The RSI indicator has settled around 57.40.

BTC/USD daily chart

BTC/USD daily chart

BTC/USD encountered resistance at the SMA 50 curve and charted two consecutive bearish days. The price of the asset has fallen from $7,295 to $7,241.35 in the early hours of Friday. Despite bearish action, the price is still trending in an upwards channel formation. If the bears want to continue their momentum, they will need to break support at $6,949.16 and then $6,629.67 to fall below the channel formation. The 20-day Bollinger jaw expands slowly, indicating an increase in price volatility. The RSI is trending horizontally around the 57.40 mark.

Key levels


Today last price 7258.92
Today Daily Change -36.25
Today Daily Change % -0.50
Today daily open 7295.17
Daily SMA20 6656.52
Daily SMA50 7377.71
Daily SMA100 8151
Daily SMA200 8101.25
Previous Daily High 7375.98
Previous Daily Low 7111.06
Previous Weekly High 7254.75
Previous Weekly Low 5854.85
Previous Monthly High 9215.51
Previous Monthly Low 3886.49
Daily Fibonacci 38.2% 7212.26
Daily Fibonacci 61.8% 7274.78
Daily Pivot Point S1 7145.49
Daily Pivot Point S2 6995.81
Daily Pivot Point S3 6880.57
Daily Pivot Point R1 7410.41
Daily Pivot Point R2 7525.66
Daily Pivot Point R3 7675.33



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