TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Bitcoin Technical Analysis: BTC/USD bulls are edging closer to a large potential breakthrough

  • Bitcoin price on Tuesday is trading in positive territory up some 1.80% in the second half of the day.
  • BTC/USD bulls are attempting to break above the near-term resistance and supply of $5300-50, the top area of the past few sessions. 
  • Bulls will then be eying the $5500 area, before a return up to $6000. 
Bitcoin Technical Analysis: BTC/USD bulls are edging closer to a large potential breakthrough
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  5267.62

Relative change:      +1.90%

High:                         5288.11

Low:                          5164.25

BTC/USD

Overview
Today last price5260.98
Today Daily Change69.12
Today Daily Change %1.33
Today daily open5191.86
 
Trends
Daily SMA204436.6
Daily SMA504100.32
Daily SMA1003855.84
Daily SMA2004640.93
Levels
Previous Daily High5287
Previous Daily Low5145.35
Previous Weekly High5347.55
Previous Weekly Low4052.2
Previous Monthly High4130.71
Previous Monthly Low3672.34
Daily Fibonacci 38.2%5199.46
Daily Fibonacci 61.8%5232.89
Daily Pivot Point S15129.14
Daily Pivot Point S25066.42
Daily Pivot Point S34987.48
Daily Pivot Point R15270.79
Daily Pivot Point R25349.72
Daily Pivot Point R35412.44

BTC/USD 60-minute chart

  • Price action is moving within a narrowing range formation, subject to an imminent breakout. 

BTC/USD daily chart

  • Bulls are in the process of breaking down the top area over the past few days seen around $5200-5350 range. 

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.

More from Ken Chigbo
Share:

Editor's Picks

Cardano: Under pressure as bearish derivatives cap recovery

Cardano: Under pressure as bearish derivatives cap recovery

Cardano remains under pressure, trading lower at $0.165 on Monday after mild losses in the previous week. Weakening derivatives metrics and subdued momentum indicators suggest that ADA's upside move remains limited, keeping downside risks in focus. Derivatives data for Cardano shows bearish sentiment among traders.

Bitcoin holds firm at $65,000 – AAVE and ONDO gain traction

Bitcoin holds firm at $65,000 – AAVE and ONDO gain traction

The broader cryptocurrency market risk-off sentiment eases as the US and Iran extend the pause in missile strikes, while Oman holds peace talks. Bitcoin holds firm above $65,000 on Monday, while DeFi tokens, including Aave and Ondo, emerge as top performers over the last 24 hours.

Bitcoin extends winning streak, Ethereum clears key hurdle, XRP steadies

Bitcoin extends winning streak, Ethereum clears key hurdle, XRP steadies

Bitcoin, Ethereum and Ripple begin the week on a firm footing after surging over 1%, 4% and 1%, respectively, in the previous week. BTC holds above key technical resistance after recording its fourth consecutive weekly gain.

World Foundation raises over $52M in token sale as World Network marks third anniversary

World Foundation raises over $52M in token sale as World Network marks third anniversary

World Foundation, the nonprofit organization behind World Network, has raised $52.5 million through a strategic sale of its WLD token as the project marks three years since its mainnet launch. The funding round was led by Pantera Capital and included participation from Bain Capital Crypto, Eightco Holdings, Selini Capital, Susquehanna Crypto and other investors.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.