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Bitcoin technical analysis: BTC/USD $10,500 is the big bull target to breakdown

  • Bitcoin price in the session on Friday is trading with minor losses of some 0.90%.
  • BTC/USD price remains largely capped to the upside, narrowing further in its daily range. 
  • The price as mentioned previously continues to move within the confinements of a narrowing triangular structure. 
  • There continues to be lack of commitment for now in terms of trend, as the price further consolidates. 
Bitcoin technical analysis: BTC/USD $10,500 is the big bull target to breakdown
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  10,309.31

Relative change:      -0.90%

High:                         10,454.53

Low:                          10,287.82

BTC/USD

Overview
Today last price10304.42
Today Daily Change-118.14
Today Daily Change %-1.13
Today daily open10422.56
 
Trends
Daily SMA2010166.88
Daily SMA5010433.39
Daily SMA10010317.58
Daily SMA2007890.05
Levels
Previous Daily High10465.95
Previous Daily Low10036.92
Previous Weekly High10942.68
Previous Weekly Low9541.38
Previous Monthly High12325.08
Previous Monthly Low9321.06
Daily Fibonacci 38.2%10302.06
Daily Fibonacci 61.8%10200.81
Daily Pivot Point S110151
Daily Pivot Point S29879.45
Daily Pivot Point S39721.98
Daily Pivot Point R110580.03
Daily Pivot Point R210737.5
Daily Pivot Point R311009.06

BTC/USD daily chart

  • BTC/USD daily price action is limited at present, with the lack of trend commitment. The price has recently edged out of a bullish flag structure, making room for further potential upside. 

BTC/USD 60-minute chart

  • Near-term price action via the 60-minute chart view has made some progress, after breaking out from a descending channel structure.

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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