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 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 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

 

 

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