Bitcoin Technical Analysis: BTC/USD consolidates around $8,000

BTC/USD Daily Chart

  • BTC/USD is currently trading for $8,020.
  • The bulls will be aiming for the $8,050 level in the short-term.
  • The price is currently consolidating in a flag formation priming for a breakout.
  • BTC/USD is comfortably trading above the SMA 200, SMA 50, and SMA 20 curves.
  • The Elliot wave oscillator shows 14 consecutive bullish sessions.

BTC/USD 4-Hour Chart

  • The 4-hour BTC/USD market has had a bullish outbreak from the triangle formation.
  • The chart overtook the upper curve of the 20-day Bollinger band five sessions back but then crept back inside towards the SMA 20 curve.
  • The price found support on the $7,770 line and bounced back up.
  • The relative strength index (RSI) indicator is creeping next to the overbought territory.

BTC/USD Hourly Chart

  • The hourly price is currently trending inside a cup and saucer pattern.
  • The price found support on the upward trending line and bounced back up.
  • The signal line is converging with the MACD line indicating decreasing bearish momentum.

Key Levels


Today last price 8039.11
Today Daily Change 48.41
Today Daily Change % 0.61
Today daily open 7990.7
Daily SMA20 5938.01
Daily SMA50 5327.12
Daily SMA100 4554.22
Daily SMA200 4494.32
Previous Daily High 8337.26
Previous Daily Low 7623.54
Previous Weekly High 6428.2
Previous Weekly Low 5564.95
Previous Monthly High 5632.53
Previous Monthly Low 4052.2
Daily Fibonacci 38.2% 8064.62
Daily Fibonacci 61.8% 7896.19
Daily Pivot Point S1 7630.4
Daily Pivot Point S2 7270.11
Daily Pivot Point S3 6916.68
Daily Pivot Point R1 8344.13
Daily Pivot Point R2 8697.56
Daily Pivot Point R3 9057.85




Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.