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Bitcoin technical analysis: BTC/USD bears heading for move towards psychological $10,000 territory

  • Bitcoin price in the second half of Tuesday is trading in the red, down some 1.35%. 
  • BTC/USD price action remains weighted to the downside, following the rejection within supply around $12,000 region. 
  • Price action via the daily chart view is constructing a potential inverse head and shoulders pattern.
Bitcoin technical analysis: BTC/USD bears heading for move towards psychological $10,000 territory
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 11,202.10

Relative change:      -2.30%

High:                        11,439.75

Low:                         11,200.23

BTC/USD

Overview
Today last price11206.33
Today Daily Change-180.35
Today Daily Change %-1.58
Today daily open11386.68
 
Trends
Daily SMA2010684.78
Daily SMA5010960.89
Daily SMA1009489.18
Daily SMA2006856.65
Levels
Previous Daily High11551.22
Previous Daily Low11222.3
Previous Weekly High12325.08
Previous Weekly Low10564.42
Previous Monthly High13195.19
Previous Monthly Low9080.79
Daily Fibonacci 38.2%11347.95
Daily Fibonacci 61.8%11425.57
Daily Pivot Point S111222.25
Daily Pivot Point S211057.82
Daily Pivot Point S310893.33
Daily Pivot Point R111551.17
Daily Pivot Point R211715.65
Daily Pivot Point R311880.09

BTC/USD daily chart

  • Price action via the daily is forming an inverse head and shoulders structure. 

BTC/USD 60-minute chart

  •  The price via 60-minute chart view has extended to the do

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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