Bitcoin Price Analysis: There could be some trouble ahead

Bitcoin trades well at the start of the week as general cryptocurrency sentiment improves.
BTC/USD trades 4.13% higher and the bears might come in at the 9K level.

Rajan Dhall, MSTA FX Daily

BTC/USD 1-Hour Chart

Now the price has broken out of the short term trendline, the resistance zone is up next.

The red 9K resistance line has been significant in the past and it could be again.

Very close to that level is the 38.2% Fibonacci level which also is respected in the crypto world.

Above this on the daily chart, 9,512.00 is a technically more important zone.

In the middle 9,130.00 is also an interesting zone.

Additional Levels

BTC/USD

Overview
Today last price	8902.85
Today Daily Change	377.09
Today Daily Change %	4.42
Today daily open	8525.76

Trends
Daily SMA20	9589.96
Daily SMA50	9266.43
Daily SMA100	8308.58
Daily SMA200	8768.34

Levels
Previous Daily High	8752.69
Previous Daily Low	8405.51
Previous Weekly High	10027.5
Previous Weekly Low	8431.17
Previous Monthly High	10511.86
Previous Monthly Low	8431.17
Daily Fibonacci 38.2%	8620.07
Daily Fibonacci 61.8%	8538.13
Daily Pivot Point S1	8369.95
Daily Pivot Point S2	8214.15
Daily Pivot Point S3	8022.78
Daily Pivot Point R1	8717.12
Daily Pivot Point R2	8908.49
Daily Pivot Point R3	9064.3

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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