- BTC/USD struggles to extend recovery moves from 21-day SMA, one-month-old support line.
- 10-day SMA, bearish MACD probes the Bitcoin buyers.
- February 10 low adds to the downside filters.
BTC/USD takes the bids near $49,450 while extending the previous day’s recovery moves during the early Thursday’s trading. The quote rose for the first time in the last two days on Wednesday following its bounce-off key support indicators, namely the 21-day SMA and an upward sloping trend line from January 27.
Even so, MACD flashes the strongest bearish signals in February while 10-SMA, currently around, also probes the buyers targeting the $50,000 immediate hurdle.
In a case where the Bitcoin buyers manage to cross $52,300 SMA resistance, the recent record top near $58,355 and the $60,000 will be on their radars.
Alternatively, 21-day SMA and the stated support line, respectively around $48,000 and $46,000, could restrict the quote’s short-term pullback moves.
However, any further weakness below $46,000 will not hesitate to challenge the February 10 low near $43,700, a break of which will eye for the early month top near $41,000 and the $40,000 threshold afterward.
Overall, Bitcoin is still under threat of a pullback unless clearing immediate resistances stated above.
BTC/USD daily chart
Additional important levels
|Today last price||49354.31|
|Today Daily Change||453.17|
|Today Daily Change %||0.93%|
|Today daily open||48901.14|
|Previous Daily High||54188.95|
|Previous Daily Low||44954.63|
|Previous Weekly High||56348.35|
|Previous Weekly Low||45855.52|
|Previous Monthly High||41987.21|
|Previous Monthly Low||27772|
|Daily Fibonacci 38.2%||48482.14|
|Daily Fibonacci 61.8%||50661.44|
|Daily Pivot Point S1||44507.53|
|Daily Pivot Point S2||40113.92|
|Daily Pivot Point S3||35273.21|
|Daily Pivot Point R1||53741.85|
|Daily Pivot Point R2||58582.56|
|Daily Pivot Point R3||62976.17|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.