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

BTCUSD

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 price9252.69
Today Daily Change118.07
Today Daily Change %1.29
Today daily open9134.62
 
Trends
Daily SMA209335.07
Daily SMA509418.79
Daily SMA1008461.21
Daily SMA2008346.66
 
Levels
Previous Daily High9200.07
Previous Daily Low9061.14
Previous Weekly High9786.22
Previous Weekly Low8988.56
Previous Monthly High10404.88
Previous Monthly Low8823.34
Daily Fibonacci 38.2%9114.21
Daily Fibonacci 61.8%9147
Daily Pivot Point S19063.81
Daily Pivot Point S28993.01
Daily Pivot Point S38924.88
Daily Pivot Point R19202.75
Daily Pivot Point R29270.88
Daily Pivot Point R39341.69

Author

Lorenzo Stroe

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.

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