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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.
Bitcoin Price Analysis: The harmonicity continues on the hourly chart
Rajan Dhall, MSTARajan Dhall, MSTAFX 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.

Bitcoin Fibonacci

Additional Levels

BTC/USD

Overview
Today last price9121.69
Today Daily Change363.45
Today Daily Change %4.15
Today daily open8758.24
 
Trends
Daily SMA209368.66
Daily SMA509293.06
Daily SMA1008359.31
Daily SMA2008739.16
 
Levels
Previous Daily High8847.13
Previous Daily Low8669.02
Previous Weekly High10027.5
Previous Weekly Low8431.17
Previous Monthly High10511.86
Previous Monthly Low8431.17
Daily Fibonacci 38.2%8779.09
Daily Fibonacci 61.8%8737.06
Daily Pivot Point S18669.12
Daily Pivot Point S28580.01
Daily Pivot Point S38491.01
Daily Pivot Point R18847.24
Daily Pivot Point R28936.25
Daily Pivot Point R39025.36

Author

Rajan Dhall, MSTA

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

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