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

BTCUSD

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 price9155.87
Today Daily Change24.62
Today Daily Change %0.27
Today daily open9131.25
 
Trends
Daily SMA209198.32
Daily SMA509401.23
Daily SMA1008871.97
Daily SMA2008510.08
 
Levels
Previous Daily High9214.27
Previous Daily Low9020.75
Previous Weekly High9475.54
Previous Weekly Low8907.51
Previous Monthly High10404.88
Previous Monthly Low8823.34
Daily Fibonacci 38.2%9094.67
Daily Fibonacci 61.8%9140.35
Daily Pivot Point S19029.9
Daily Pivot Point S28928.56
Daily Pivot Point S38836.38
Daily Pivot Point R19223.43
Daily Pivot Point R29315.62
Daily Pivot Point R39416.96

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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