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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.
Bitcoin Price Analysis: There could be some trouble ahead
Rajan Dhall, MSTARajan Dhall, MSTAFX 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.

Bitcoin

Additional Levels

BTC/USD

Overview
Today last price8902.85
Today Daily Change377.09
Today Daily Change %4.42
Today daily open8525.76
 
Trends
Daily SMA209589.96
Daily SMA509266.43
Daily SMA1008308.58
Daily SMA2008768.34
 
Levels
Previous Daily High8752.69
Previous Daily Low8405.51
Previous Weekly High10027.5
Previous Weekly Low8431.17
Previous Monthly High10511.86
Previous Monthly Low8431.17
Daily Fibonacci 38.2%8620.07
Daily Fibonacci 61.8%8538.13
Daily Pivot Point S18369.95
Daily Pivot Point S28214.15
Daily Pivot Point S38022.78
Daily Pivot Point R18717.12
Daily Pivot Point R28908.49
Daily Pivot Point R39064.3

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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