- The MACD indicates a reversal of bullish momentum.
- The bears have retained control for the fourth straight day.
BTC/USD daily chart
BTC/USD fell from $8,727.75 to $8,636.50 as the bears retained control for the fourth straight day. Bitcoin just experienced its third halving event, however, it looks like it isn’t going to be the huge bullish event that many were touting it to be. Currently, many fear that miners may quit the market due to the drop in mining profitability.
The price is trending above the red Ichimoku cloud. The Elliott Oscillator has had two red sessions in a row, while the MACD shows a reversal of bullish momentum. Both these indicators hint that the overall market sentiment is bearish.
On the downside, the buyers must defend the $8,390 and $8,125 support levels. On the upside, there are two strong resistance levels at $8,829.50 and $9,181.45.
|Today last price||8638.77|
|Today Daily Change||-88.66|
|Today Daily Change %||-1.02|
|Today daily open||8727.43|
|Previous Daily High||9559.74|
|Previous Daily Low||8105.58|
|Previous Weekly High||10074.48|
|Previous Weekly Low||8535.49|
|Previous Monthly High||9476.83|
|Previous Monthly Low||6156.67|
|Daily Fibonacci 38.2%||8661.07|
|Daily Fibonacci 61.8%||9004.25|
|Daily Pivot Point S1||8035.43|
|Daily Pivot Point S2||7343.42|
|Daily Pivot Point S3||6581.26|
|Daily Pivot Point R1||9489.59|
|Daily Pivot Point R2||10251.75|
|Daily Pivot Point R3||10943.75|
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