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Bitcoin technical analysis: BTC/USD critical daily trend line prevents devastation for now

  • Bitcoin price is trading down some 11% in the second half of the session on Friday. 
  • BTC/USD price action via the daily chart view is testing a critical daily trend line to the downside. 
  • The noted support can be seen tracking around $11,000 price mark. 

Spot rate:                11,682.06 

Relative change:      +2.95%

High:                        11,785.39

Low:                         11,085.27

BTC/USD

Overview
Today last price11686.03
Today Daily Change340.12
Today Daily Change %3.00
Today daily open11345.91
 
Trends
Daily SMA2011490.14
Daily SMA509659.22
Daily SMA1007758.01
Daily SMA2005758.57
Levels
Previous Daily High12098.98
Previous Daily Low10968.34
Previous Weekly High12198.8
Previous Weekly Low9657.13
Previous Monthly High13862.09
Previous Monthly Low7437.33
Daily Fibonacci 38.2%11400.24
Daily Fibonacci 61.8%11667.07
Daily Pivot Point S110843.17
Daily Pivot Point S210340.43
Daily Pivot Point S39712.53
Daily Pivot Point R111973.81
Daily Pivot Point R212601.72
Daily Pivot Point R313104.46

BTC/USD 60-minute chart

  • Upside is capped by a barrier running from $11,600-800 range via the 60-minute.

BTC/USD daily chart

  • Daily ascending trend line stops the bears from causing a chunky wave of selling pressure. 

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
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