Bitcoin technical analysis: BTC/USD fresh selling pressure as price firmly smashes $9000

Bitcoin price is trading in negative territory, down some 4% in the second half of the session.
Near-term price action has smashed out from a bearish flag structure.
BTC/USD is subject to further downside pressure should critical support of $900 be given up.

Ken Chigbo Independent Analyst

BTC/USD weekly chart

The price is testing critical weekly support to the downside seen at the $9000 price mark, which the bears are at present in control of driving deeper below.

BTC/USD daily chart

Daily price action is lost much upside momentum, following failure to break down supply at $9500.

BTC/USD 15-minute chart

Spot rate: 8,993.28

Relative change: -2.25%

High: 9,247.27

Low: 8714.48

BTC/USD

Overview
Today last price	8810.74
Today Daily Change	-389.82
Today Daily Change %	-4.24
Today daily open	9200.56

Trends
Daily SMA20	8714.13
Daily SMA50	8691.86
Daily SMA100	9588.18
Daily SMA200	9111.1

Levels
Previous Daily High	9373.46
Previous Daily Low	9081.6
Previous Weekly High	9938.64
Previous Weekly Low	8964.78
Previous Monthly High	10484.7
Previous Monthly Low	7300.54
Daily Fibonacci 38.2%	9193.09
Daily Fibonacci 61.8%	9261.97
Daily Pivot Point S1	9063.62
Daily Pivot Point S2	8926.68
Daily Pivot Point S3	8771.75
Daily Pivot Point R1	9355.48
Daily Pivot Point R2	9510.4
Daily Pivot Point R3	9647.34

Author

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.

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Bitcoin technical analysis: BTC/USD fresh selling pressure as price firmly smashes $9000