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Bitcoin Price Analysis: The market found support but the signs still are not good

  • Bitcoin has moved into positive territory and trades 0.50% higher on Thursday.
  • The market has recently found some support at around the 9,500 level.
Bitcoin Price Analysis: The market found support but the signs still are not good
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

BTC/USD 4-Hour Chart

Bitcoin has just moved into positive territory.

The market found support at the 9,500 level you can see on the chart below.

This does not stop the fact there was a lower high lower low that has been created.

Below that, just above the 9,000 level is the next support zone. 

At the moment traders will be looking to see what happens on the trendline retest. This would be closer to the 10K level once again.

Bitcoin Chart

Additional Levels

BTC/USD

Overview
Today last price9594.52
Today Daily Change-3.87
Today Daily Change %-0.04
Today daily open9598.39
 
Trends
Daily SMA209805.56
Daily SMA508924.29
Daily SMA1008207.8
Daily SMA2008885.15
 
Levels
Previous Daily High10307.33
Previous Daily Low9309.77
Previous Weekly High10511.86
Previous Weekly Low9707.96
Previous Monthly High9568.13
Previous Monthly Low6856.63
Daily Fibonacci 38.2%9690.84
Daily Fibonacci 61.8%9926.27
Daily Pivot Point S19169.66
Daily Pivot Point S28740.93
Daily Pivot Point S38172.1
Daily Pivot Point R110167.23
Daily Pivot Point R210736.06
Daily Pivot Point R311164.79

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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