TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

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

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 price7605.44
Today Daily Change-10.35
Today Daily Change %-0.14
Today daily open7615.79
 
Trends
Daily SMA208764.61
Daily SMA508502.58
Daily SMA1009270.55
Daily SMA2009320.52
 
Levels
Previous Daily High8114.54
Previous Daily Low7393.27
Previous Weekly High9137.8
Previous Weekly Low8369.16
Previous Monthly High10484.7
Previous Monthly Low7300.54
Daily Fibonacci 38.2%7668.79
Daily Fibonacci 61.8%7839.01
Daily Pivot Point S17301.19
Daily Pivot Point S26986.6
Daily Pivot Point S36579.92
Daily Pivot Point R18022.46
Daily Pivot Point R28429.14
Daily Pivot Point R38743.73

 

 

 

Author

John Isige

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

More from John Isige
Share:

Editor's Picks

Ripple Price Forecast: XRP recovery dims as demand cools

Ripple Price Forecast: XRP recovery dims as demand cools

Ripple (XRP) maintains narrow range trading on Monday, with support at $1.10. The token's upside remains largely constrained, as major moving averages trend downward, aligning with low demand in both the institutional and retail markets.
Crypto Today: Bitcoin, Ethereum, XRP hold key support as US and Iran agree to halt strikes

Crypto Today: Bitcoin, Ethereum, XRP hold key support as US and Iran agree to halt strikes

Bitcoin (BTC) maintains a neutral-to-bullish outlook, trading above $65,000 on Monday. Ethereum (ETH) is approaching the key supply and inflection point $2,000, while Ripple (XRP) hovers slightly above $1.10, underscoring a marginal improvement in the broader cryptocurrency market sentiment.
Shiba Inu Price Forecast: The three factors driving SHIB's mystery rally

Shiba Inu Price Forecast: The three factors driving SHIB's mystery rally

Shiba Inu (SHIB) price is down 3% on Monday, reflecting a potential profit-driven pullback after rising over 25% over the last two days. The mystery rally in SHIB has outpaced the minor recovery seen in other meme coins, with data suggesting it is linked to supply burns, the Korean market demand, and ecosystem expansion.
Bitcoin options traders are dropping their hedges going into the Fed meeting

Bitcoin options traders are dropping their hedges going into the Fed meeting

Bitcoin's options market has turned notably less defensive over the past month, unwinding the downside protection traders built up in June just as the Federal Reserve prepares to meet.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.