• Bitcoin trades 2.57% higher today after spiking earlier in the session.
  • The market failed to gather momentum ahead of 8K.

 

BTC/USD 4-Hour Chart

The Bitcoin spike earlier failed to carry much momentum, unlike the good old days.

Now all that is left is a large upper shadow on the candlestick.

The volume has high enough but it seems at 7,775.00 there must have been sellers lying in wait to force the price down.

Looking at the chart now, we have still had a break out of the descending wedge formation. 

This suggests that we could see more upside in the pair.

Bitcoin Analysis

Additional Levels

BTC/USD

Overview
Today last price 7490.52
Today Daily Change 190.29
Today Daily Change % 2.61
Today daily open 7300.23
 
Trends
Daily SMA20 7722.62
Daily SMA50 8279.56
Daily SMA100 8882.26
Daily SMA200 9388.87
 
Levels
Previous Daily High 7412.2
Previous Daily Low 7241.5
Previous Weekly High 7868.08
Previous Weekly Low 6526.82
Previous Monthly High 9580.19
Previous Monthly Low 6526.82
Daily Fibonacci 38.2% 7306.71
Daily Fibonacci 61.8% 7346.99
Daily Pivot Point S1 7223.75
Daily Pivot Point S2 7147.27
Daily Pivot Point S3 7053.05
Daily Pivot Point R1 7394.46
Daily Pivot Point R2 7488.68
Daily Pivot Point R3 7565.16

 

 

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