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Bitcoin Technical Analysis: BTC/USD a small barrier away from $6000 return

  • Bitcoin price on Monday is trading up in very minor positive territory, small gains of just some 0.10%.
  • BTC/USD bulls are gradually trying to breakdown a difficult area of supply $5200-500 range. 
  • Should the bulls manage to breakdown the noted supply zone, a clean return to $6000 could be seen very quickly. 
Bitcoin Technical Analysis: BTC/USD a small barrier away from $6000 return
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  77.08

Relative change:      -0.40%

High:                         78.22

Low:                          75.54

BTC/USD

Overview
Today last price5297.44
Today Daily Change0.65
Today Daily Change %0.01
Today daily open5296.79
 
Trends
Daily SMA205143.03
Daily SMA504420.53
Daily SMA1004018.46
Daily SMA2004560.53
Levels
Previous Daily High5346.92
Previous Daily Low5214.29
Previous Weekly High5356.72
Previous Weekly Low4948.97
Previous Monthly High4130.71
Previous Monthly Low3672.34
Daily Fibonacci 38.2%5264.95
Daily Fibonacci 61.8%5296.25
Daily Pivot Point S15225.08
Daily Pivot Point S25153.37
Daily Pivot Point S35092.45
Daily Pivot Point R15357.71
Daily Pivot Point R25418.63
Daily Pivot Point R35490.33

BTC/USD 60-minute chart

  • 60-minute chart view sees the price moving within a near-term ascending wedge pattern formation. 

BTC/USD daily chart

  • BTC/USD are moving slowly within a chunky area of supply, $5200-500, proving not to be an easy task, but gradually being worked on by the bulls as can be seen.

 

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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