Bitcoin technical analysis: BTC/USD another session in the range block risks further downside


  • Bitcoin price is trading marginally in the red, down some 0.20% in the second half of the session. 
  • BTC/USD continues to move within a narrowing range block formation vulnerable to downside risks. 
  • Upside remains limited and short-lived, rallied seen are quickly sold by the market bears. 

 

BTC/USD daily chart

Bulls will need to smash out to the upside from the range block in order to change the current downside trend. 

BTC/USD 60-minute chart

 A heavy near-term barrier of supply can be observed around $8,300 preventing further moves north. 

 

Spot rate:                  8,215.20

Relative change:      -0.20%

High:                         8,237.83

Low:                          8,119.81

BTC/USD

Overview
Today last price 8181.04
Today Daily Change -1.26
Today Daily Change % -0.02
Today daily open 8182.3
 
Trends
Daily SMA20 8670.93
Daily SMA50 9596.27
Daily SMA100 10190.9
Daily SMA200 8562.82
 
Levels
Previous Daily High 8344.2
Previous Daily Low 8111.47
Previous Weekly High 8532.46
Previous Weekly Low 7706.37
Previous Monthly High 10942.68
Previous Monthly Low 7706.37
Daily Fibonacci 38.2% 8200.37
Daily Fibonacci 61.8% 8255.3
Daily Pivot Point S1 8081.11
Daily Pivot Point S2 7979.92
Daily Pivot Point S3 7848.37
Daily Pivot Point R1 8313.85
Daily Pivot Point R2 8445.39
Daily Pivot Point R3 8546.58

 

 

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