Bitcoin Technical Analysis: BTC/USD is on the verge of a massive breakout towards $10,000 or $8,000

BTC/USD continues trading sideways without a clear direction.
Bitcoin price is at $9,155 while the trading volume continues declining every day.

Lorenzo Stroe Independent Analyst

Bitcoin has already lost a significant portion of its dominance against other altcoins. After trading sideways for such a long time, many coins are taking advantage of the situation to create massive rallies.

BTC/USD daily chart

Bitcoin is still below the daily 12-EMA but the bears are not getting any significant continuation moves. To resume its slight bullish trend, buyers would need to climb above both EMAs first.

It’s important to note that cryptocurrencies that trade sideways with decreasing trading volume are always getting closer to a massive breakout. While it’s unclear in which direction Bitcoin will go next, the last three to four months have been generally bullish for the entire market.

BTC/USD technical levels

BTC/USD

Overview
Today last price	9155.87
Today Daily Change	24.62
Today Daily Change %	0.27
Today daily open	9131.25

Trends
Daily SMA20	9198.32
Daily SMA50	9401.23
Daily SMA100	8871.97
Daily SMA200	8510.08

Levels
Previous Daily High	9214.27
Previous Daily Low	9020.75
Previous Weekly High	9475.54
Previous Weekly Low	8907.51
Previous Monthly High	10404.88
Previous Monthly Low	8823.34
Daily Fibonacci 38.2%	9094.67
Daily Fibonacci 61.8%	9140.35
Daily Pivot Point S1	9029.9
Daily Pivot Point S2	8928.56
Daily Pivot Point S3	8836.38
Daily Pivot Point R1	9223.43
Daily Pivot Point R2	9315.62
Daily Pivot Point R3	9416.96

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 is on the verge of a massive breakout towards $10,000 or $8,000