Share:
  • The MACD indicates a reversal of bullish momentum.
  • The bears have retained control for the fourth straight day.

BTC/USD daily chart

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.

Key levels

BTC/USD

Overview
Today last price 8638.77
Today Daily Change -88.66
Today Daily Change % -1.02
Today daily open 8727.43
 
Trends
Daily SMA20 8454.34
Daily SMA50 7448.58
Daily SMA100 8011.57
Daily SMA200 8019.1
 
Levels
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

 


 

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Join Telegram

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

Ocean Protocol Price Prediction: Stunning bullish signals going unnoticed

Ocean Protocol Price Prediction: Stunning bullish signals going unnoticed

Ocean Protocol (OCEAN) price has outperformed nearly all of the cryptocurrencies in the space. The parabolic move shows no signs of slowing down yet little coverage has surfaced from crypto media outlets. This article analyzes OCEAN’s price action to gauge where it may find resistance ahead.

More Crypto News

Hedera Hashgraph Price Prediction: A potential bullrun with caution

Hedera Hashgraph Price Prediction: A potential bullrun with caution

Hedera Hashgraph price shows potential to continue its uptrend. The consolidation phase could be viewed as a buying opportunity in hindsight. However, the risk to the downside should be considered.

More Hedera News

SushiSwap price rises by 8% following social coordination launch; AAVE, MKR next?

SushiSwap price rises by 8% following social coordination launch; AAVE, MKR next?

SushiSwap price noted a sharp rise during the intra-day trading hours, which was followed by a special announcement by the leaders of the Decentralised Finance (DeFi) space. 

More SushiSwap News

Decentraland Price Prediction: Consolidation before the next move

Decentraland Price Prediction: Consolidation before the next move

Decentraland price has seen impressive growth in recent months, with a 145% rally last month alone. However, the crypto asset has faced some cooling off lately, losing 7% of its market value in the last three days.

More Decentraland News

Bitcoin: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

Bitcoin: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

Bitcoin (BTC) price is at an inflection point as it continues to rally amid multiple sell signals on lower time frames. The Nonfarm Payrolls (NFP) report, including the unemployment rate and average hourly earnings, is set to be announced on February 3 at 1330 GMT.

Read full analysis

BTC

ETH

XRP