- BTC/USD bulls lose the initiative, push the coin back inside the range
- An important support is created by $9,000 handle.
Bitcoin (BTC) resumed the decline after a failed attempt to keep the upside momentum after a move above $9,200. The first digital asset hit the intraday high at $9,288 and retreated to $9,200 by the time of writing. On the intraday level, the coin has been moving within a short-term bearish bias within the recent tight range.
BTC/USD 1-hour chart
Bitcoin confluence levels
BTC/USD has been oscillating in a range since the start of the week, which means the coin may be vulnerable to sharp movements in either direction, once the motion is triggered. The upside is the path of least resistance at this stage; however, a move below the current support level may result in a violent sell-off. Let's have a closer look at the technical levels.
Resistance levels
$9,300 - lower upper of 1-hour and 4-hour Bollinger Bands, 38.2% Fibo retracement weekly, 4-hour SMA100
$9,500 - 4-hour SMA200, 61.8% Fibo retracement weekly
$9,800 - the highest level of the previous month, 61.8% Fibo retracement monthly
Support levels
$9,150 - 1-hour SMA50 and SMA200, 4-hour SMA50, 61.8% Fibo retracement daily, the middle line of the 4-hour Bollinger Band
$9,000 - the lower line of the daily Bollinger Band, the lowest level of the previous week
$8,500 - Pivot Point 1-month Support 1, Pivot Point 1-week Support 2.
BTC/USD, 1-day
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Coinbase lists WIF perpetual futures contract as it unveils plans for Aevo, Ethena, and Etherfi
Dogwifhat perpetual futures began trading on Coinbase International Exchange and Coinbase Advanced on Thursday. However, the futures contract failed to trigger a rally for the popular meme coin.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
Ethereum cancels rally expectations as Consensys sues SEC over ETH security status
Ethereum (ETH) appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the Securities & Exchange Commission (SEC) and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.
FBI cautions against non-KYC Bitcoin and crypto money transmitting services as SEC goes after MetaMask
US Federal Bureau of Investigations (FBI) has issued a caution to Bitcoiners and cryptocurrency market enthusiasts, coming on the same day as when the US Securities and Exchange Commission (SEC) is on the receiving end of a lawsuit, with a new player adding to the list of parties calling for the regulator to restrain its hand.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?