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Bitcoin Technical Analysis: BTC/USD almost slipping below $9,000 as selling pressure keeps mounting

  • BTC/USD touched $9,028 but was able to bounce back to $9,134.
  • Bears are slowly taking over while bulls are trying to defend the crucial $9,000 support level.
Bitcoin Technical Analysis: BTC/USD almost slipping below $9,000 as selling pressure keeps mounting
Lorenzo StroeLorenzo StroeIndependent Analyst

The daily uptrend of Bitcoin was lost after $9,160 was broken on June 25. Bears are seeing continuation and targeting $9,000 next. The 12-EMA and the 26-EMA have crossed bearishly for the first time since February 26.

BTC/USD 4-hour chart

BTCUSD

The 4-hour chart, although in a downtrend, could easily shift in favor of the bulls. The last low is established at $8,988 and buyers have defended $9,028 setting a higher low which could turn into a 4-hour uptrend if they can climb above $9,337. 

Before that, bulls need to crack the 12-EMA at $9,231 and the 26-EMA at $9,309. After that point, there isn’t really a lot of resistance towards $9,750.

BTC/USD technical levels

BTC/USD

Overview
Today last price9158.25
Today Daily Change-81.76
Today Daily Change %-0.88
Today daily open9240.01
 
Trends
Daily SMA209499.22
Daily SMA509439.89
Daily SMA1008303.47
Daily SMA2008299.68
 
Levels
Previous Daily High9337.17
Previous Daily Low8988.56
Previous Weekly High9589.87
Previous Weekly Low8899.05
Previous Monthly High10074.48
Previous Monthly Low8105.58
Daily Fibonacci 38.2%9121.73
Daily Fibonacci 61.8%9204
Daily Pivot Point S19039.99
Daily Pivot Point S28839.97
Daily Pivot Point S38691.39
Daily Pivot Point R19388.6
Daily Pivot Point R29537.19
Daily Pivot Point R39737.21

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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