Bitcoin Technical Analysis: BTC/USD bearish pennant pattern subject to a breakout

  • Bitcoin price in the second half on Thursday is nursing losses of around 0.95%.
  • BTC/USD price action remains within consolidation mode, following a breakout of a critical daily supporting trend line at the start of the week. 
  • Big near-term daily support is seen at $7500 level, a break below would heavily expose $7000 to the downside. 


Spot rate:                 7,725.41

Relative change:      -0.95%

High:                        7873.40

Low:                         7653.96


Today last price 7740.16
Today Daily Change -47.85
Today Daily Change % -0.61
Today daily open 7788.01
Daily SMA20 8145.98
Daily SMA50 6810.86
Daily SMA100 5541.58
Daily SMA200 4688.14
Previous Daily High 7928.37
Previous Daily Low 7574.14
Previous Weekly High 9090.94
Previous Weekly Low 7889.67
Previous Monthly High 9090.94
Previous Monthly Low 5266.72
Daily Fibonacci 38.2% 7793.05
Daily Fibonacci 61.8% 7709.46
Daily Pivot Point S1 7598.64
Daily Pivot Point S2 7409.28
Daily Pivot Point S3 7244.42
Daily Pivot Point R1 7952.87
Daily Pivot Point R2 8117.73
Daily Pivot Point R3 8307.09


BTC/USD 60-minute chart

  • Price action via the 60-minute chart view is moving within a bearish penannt pattern structure, subject to further potential downside. 


BTC/USD daily chart

  • Consolidation mode is observed via the daily chart, following the trend line break earlier in the week. 

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