Bitcoin Technical Analysis: BTC/USD eying up $9,300 after a small 1% price surge

BTC/USD is trying to climb above the daily 12-EMA at $9,252.
Bitcoin is inside a daily downtrend.

Lorenzo Stroe Independent Analyst

Bitcoin has been fairly weak for the past month, especially after losing the daily uptrend. Bulls are now trying to climb and close above the daily 12-EMA, established at around $9,250. This is the first resistance level buyers need to beat, the next is located at $9,322, the daily 26-EMA.

BTC/USD daily chart

Clearly bulls need to prove themselves. The 12-EMA is the most important resistance level now but it won’t necessarily mean Bitcoin is ready for a trend reversal. The most likely scenario is going to be a lower high compared to $9,786 followed by a higher low from $8,823. After that point, Bitcoin can establish a daily equilibrium pattern or change the trend into an uptrend.

BTC/USD technical levels

BTC/USD

Overview
Today last price	9252.69
Today Daily Change	118.07
Today Daily Change %	1.29
Today daily open	9134.62

Trends
Daily SMA20	9335.07
Daily SMA50	9418.79
Daily SMA100	8461.21
Daily SMA200	8346.66

Levels
Previous Daily High	9200.07
Previous Daily Low	9061.14
Previous Weekly High	9786.22
Previous Weekly Low	8988.56
Previous Monthly High	10404.88
Previous Monthly Low	8823.34
Daily Fibonacci 38.2%	9114.21
Daily Fibonacci 61.8%	9147
Daily Pivot Point S1	9063.81
Daily Pivot Point S2	8993.01
Daily Pivot Point S3	8924.88
Daily Pivot Point R1	9202.75
Daily Pivot Point R2	9270.88
Daily Pivot Point R3	9341.69

Author

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.