Bitcoin Technical Analysis: BTC/USD fighting for $9,500 and daily EMAs

Bitcoin is up 2% breaking above $9,400 and the daily 12-EMA and the 26-EMA.
The correlation between BTC and SP500 seems to be broken.

Lorenzo Stroe Independent Analyst

After a calm weekend, Bitcoin sees a significant bounce from $9,269 to $9,509. Bulls were stopped right at $9,500, but they have managed to push BTC above the daily 12-EMA at $9,431 and the 26-EMA a $9,424. Both EMAs were extremely close to a bear break but it seems this move will stop it.

BTC/USD daily chart

Bitcoin is trading above the daily 12-EMA and the 26-EMA and has formed a clear higher low at $9.160 compared to the low of $8,899 formed on June 15. Bulls have the possibility to create a daily uptrend or an equilibrium if they establish a lower high compared to $9,589 which is now the most important resistance level to beat. If the level is broken and Bitcoin can close above it, the daily uptrend will be confirmed.

BTC/USD 4-hour chart

The 4-hour chart is great to check if the bull move is healthy and it is. The 2% surge happened over the course of 16 hours distributed in four candlesticks. The 4-hour EMAs have crossed bullishly but the RSI is overbought. Buyers have confirmed a 4-hour uptrend now and will look for consolidation next.

BTC/USD technical levels

BTC/USD

Overview
Today last price	9481.75
Today Daily Change	196.37
Today Daily Change %	2.11
Today daily open	9285.38

Trends
Daily SMA20	9537.19
Daily SMA50	9402.76
Daily SMA100	8133.86
Daily SMA200	8260.28

Levels
Previous Daily High	9418.33
Previous Daily Low	9274.96
Previous Weekly High	9589.87
Previous Weekly Low	8899.05
Previous Monthly High	10074.48
Previous Monthly Low	8105.58
Daily Fibonacci 38.2%	9329.72
Daily Fibonacci 61.8%	9363.56
Daily Pivot Point S1	9234.11
Daily Pivot Point S2	9182.85
Daily Pivot Point S3	9090.74
Daily Pivot Point R1	9377.48
Daily Pivot Point R2	9469.59
Daily Pivot Point R3	9520.85

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.

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Bitcoin Technical Analysis: BTC/USD fighting for $9,500 and daily EMAs