Bitcoin Technical Analysis: BTC/USD consolidation ahead of next potential bull stampede

  • Bitcoin price on Wednesday is trading in the green, gains seen of some 0.50%. 
  • BTC/USD over the last two sessions despite the small gains has been trading within consolidation mode.
  • Bulls are eyeing the next major barrier to tackle, seen up at around $6500-800, ahead of $7000.


Spot rate:                  5887.03

Relative change:      +0.50%

High:                         5914.58

Low:                          5664.63


Today last price 5886.18
Today Daily Change 140.58
Today Daily Change % 2.45
Today daily open 5745.6
Daily SMA20 5393.2
Daily SMA50 4915.2
Daily SMA100 4310.85
Daily SMA200 4476.82
Previous Daily High 5969.34
Previous Daily Low 5687
Previous Weekly High 5795.47
Previous Weekly Low 5073.04
Previous Monthly High 5632.53
Previous Monthly Low 4052.2
Daily Fibonacci 38.2% 5861.49
Daily Fibonacci 61.8% 5794.85
Daily Pivot Point S1 5631.96
Daily Pivot Point S2 5518.31
Daily Pivot Point S3 5349.62
Daily Pivot Point R1 5914.29
Daily Pivot Point R2 6082.98
Daily Pivot Point R3 6196.63


BTC/USD 60-minute chart

  • Consolidation can be witnessed via the 60-minute, the price moving within a near-term ascending wedge, potentially even a bearish flag structure. 

BTC/USD daily chart

  • Price remains trading very close to the upper part of the breached bullish flag structure. 

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