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Bitcoin Technical Analysis: BTC/USD $5000 to be or not to be

  • Bitcoin Friday was trading marginally in positive territory, up with gains of just some 0.90%.
  • BTC/USD price continues to flirt with the psychological $5000 mark to the downside. 
  • The major barrier of $5500 is in the way of greater upside for the price. 
Bitcoin Technical Analysis: BTC/USD $5000 to be or not to be
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  5078.62

Relative change:      +0.90%

High:                         5102.84

Low:                          4912.39

BTC/USD

Overview
Today last price5076.81
Today Daily Change35.44
Today Daily Change %0.70
Today daily open5041.37
 
Trends
Daily SMA204556.86
Daily SMA504152.39
Daily SMA1003883.9
Daily SMA2004629.8
Levels
Previous Daily High5342.4
Previous Daily Low4969.03
Previous Weekly High5347.55
Previous Weekly Low4052.2
Previous Monthly High4130.71
Previous Monthly Low3672.34
Daily Fibonacci 38.2%5111.66
Daily Fibonacci 61.8%5199.77
Daily Pivot Point S14892.8
Daily Pivot Point S24744.24
Daily Pivot Point S34519.44
Daily Pivot Point R15266.17
Daily Pivot Point R25490.96
Daily Pivot Point R35639.53

BTC/USD 60-minute chart

  • Price action moving within a near-term consolidation block formation, which could be viewed as a bearish flag pattern. 

BTC/USD daily chart

  • The big $5000 price mark is preventing a free-fall south currently, a breach could be punishing. 

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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