Bitcoin technical analysis: BTC/USD bulls ignore the slump to $7,400 to focus the potential rally

Bitcoin bears ruthlessly forced Bitcoin through key support levels to refresh lows around $7,400.
The short-term trend remains bearish but bulls remain optimistic of a potential end-year rally.

John Isige FXStreet

Spot rate: $7,598

Relative change: -16

Percentage change: -024%

Trend: Bullish

Volatility: Expanding

BTC/USD daily chart

Bitcoin price forms yet another falling triangle pattern giving investors hope that recovery is very possible.

The MACD returns into the negative region; the bearish cross signals the high presence of sellers.

BTC/USD 4-hour chart

Bitcoin's lower low pattern continues as bears explore how deep the rabbit hole goes.

The formation of a double-bottom pattern suggests that Bitcoin’s recovery in brewing.

BTC/USD

Overview
Today last price	7605.44
Today Daily Change	-10.35
Today Daily Change %	-0.14
Today daily open	7615.79

Trends
Daily SMA20	8764.61
Daily SMA50	8502.58
Daily SMA100	9270.55
Daily SMA200	9320.52

Levels
Previous Daily High	8114.54
Previous Daily Low	7393.27
Previous Weekly High	9137.8
Previous Weekly Low	8369.16
Previous Monthly High	10484.7
Previous Monthly Low	7300.54
Daily Fibonacci 38.2%	7668.79
Daily Fibonacci 61.8%	7839.01
Daily Pivot Point S1	7301.19
Daily Pivot Point S2	6986.6
Daily Pivot Point S3	6579.92
Daily Pivot Point R1	8022.46
Daily Pivot Point R2	8429.14
Daily Pivot Point R3	8743.73

Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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BTC/USD daily chart

BTC/USD 4-hour chart

BTC/USD

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