TRENDING:
Trade War
XAU/USD
Silver
EUR/USD
GBP/USD
USD/CAD
AUD/USD
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 price
5260.98
Today Daily Change
69.12
Today Daily Change %
1.33
Today daily open
5191.86
 
Trends
Daily SMA20
4436.6
Daily SMA50
4100.32
Daily SMA100
3855.84
Daily SMA200
4640.93
Levels
Previous Daily High
5287
Previous Daily Low
5145.35
Previous Weekly High
5347.55
Previous Weekly Low
4052.2
Previous Monthly High
4130.71
Previous Monthly Low
3672.34
Daily Fibonacci 38.2%
5199.46
Daily Fibonacci 61.8%
5232.89
Daily Pivot Point S1
5129.14
Daily Pivot Point S2
5066.42
Daily Pivot Point S3
4987.48
Daily Pivot Point R1
5270.79
Daily Pivot Point R2
5349.72
Daily Pivot Point R3
5412.44

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

Crypto Today: Bitcoin, Ethereum and XRP extend correction as rising geopolitical tensions fade risky sentiment

Crypto Today: Bitcoin, Ethereum and XRP extend correction as rising geopolitical tensions fade risky sentiment

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) prices are extending their losses on Tuesday as risk-on sentiment fades amid rising geopolitical tensions over Greenland.

XRP price falls with no recovery in sight as investor confidence declines

XRP price falls with no recovery in sight as investor confidence declines

Ripple builds on the prevailing downtrend, recording 3% drop at press time on Tuesday. Growing pressure on medium-term XRP holders and a drop in XRP futures Open Interest strengthen the downside bias. 

Top Crypto Gainers: Midnight, Tezos, and Quant – Short-term recovery at risk

Top Crypto Gainers: Midnight, Tezos, and Quant – Short-term recovery at risk

Altcoins, including Midnight, Tezos, and Quant, outpace the broader cryptocurrency market in 24-hour gains at the time of writing on Tuesday. Monday’s rebounds in NIGHT, XTZ, and QNT face headwinds near crucial moving averages, capping the gains.

Ethereum Price Forecast: ETH bounces off key trendline as retailers distribute, network activity booms

Ethereum Price Forecast: ETH bounces off key trendline as retailers distribute, network activity booms

Ethereum (ETH) saw mixed sentiments in its on-chain activity over the past week. While whales accumulated amid a surge in network activity, retailers distributed as escalating geopolitical tensions over Greenland eventually pulled down prices.

Orange Juice Newsletter – Smart insights by real people. Every day.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: BTC bulls remain strong amid institutional demand, risk-on sentiment improves

Bitcoin: BTC bulls remain strong amid institutional demand, risk-on sentiment improves

Bitcoin (BTC) price holds above $95,500 at the time of writing on Friday after rallying more than so far 5% this week. The rising institutional and corporate demand supports the bullish price action in BTC.