Bitcoin Price Analysis: The harmonicity continues on the hourly chart

Bitcoin trades 4% higher as sentiment turns positive on Thursday.
Bitcoin is respecting the Fibonacci theories very well at the moment and it is displayed in the chart.

Rajan Dhall, MSTA FX Daily

BTC/USD 1-Hour Chart

The market sentiment to a turn for the good today.

Bitcoin has pushed higher against the dollar which is struggling in the FX world too.

On the chart below, the price found resistance at the 1.618% extension which matched up with the 50% retracement.

On the daily chart, 9,280.98 is a resistance level to keep an eye on too.

The price is still technically in a downtrend on the higher timeframes but on the hourly, there is some promise as the waves are making higher lows and higher highs.

Additional Levels

BTC/USD

Overview
Today last price	9121.69
Today Daily Change	363.45
Today Daily Change %	4.15
Today daily open	8758.24

Trends
Daily SMA20	9368.66
Daily SMA50	9293.06
Daily SMA100	8359.31
Daily SMA200	8739.16

Levels
Previous Daily High	8847.13
Previous Daily Low	8669.02
Previous Weekly High	10027.5
Previous Weekly Low	8431.17
Previous Monthly High	10511.86
Previous Monthly Low	8431.17
Daily Fibonacci 38.2%	8779.09
Daily Fibonacci 61.8%	8737.06
Daily Pivot Point S1	8669.12
Daily Pivot Point S2	8580.01
Daily Pivot Point S3	8491.01
Daily Pivot Point R1	8847.24
Daily Pivot Point R2	8936.25
Daily Pivot Point R3	9025.36

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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