- Bitcoin price consolidation between $9,000 and $9,600 to continue in the short term.
- The short term trend remains relatively bearish and likely to retest $9,200 support.
Spot rate: $9,291
Relative change: -28
Percentage change: -0.3%
BTC daily chart
The impressive price action last week and the consolidation afterward formed a pennant pattern.
A breakout towards $10,000 is expected to complete the formation of the pattern in the short-run.
BTC/USD 4-hour chart
The 50 SMA is standing in line to offer immediate support for the ongoing retreat towards $9,200.
Glancing upwards correction past a triangle pattern resistance could boost BTC/USD above the $9,750 supply zone resistance.
BTC/USD 1-hour chart
$9,000 level has come up as a key support area amid the consolidation phase.
The 50 SMA and the 100 SMA collaborate to offer the much-needed power to defend $9,200 support.
|Today last price||9292.92|
|Today Daily Change||-119.99|
|Today Daily Change %||-1.27|
|Today daily open||9412.91|
|Previous Daily High||9580.19|
|Previous Daily Low||9127.4|
|Previous Weekly High||9938.64|
|Previous Weekly Low||8964.78|
|Previous Monthly High||10484.7|
|Previous Monthly Low||7300.54|
|Daily Fibonacci 38.2%||9407.22|
|Daily Fibonacci 61.8%||9300.37|
|Daily Pivot Point S1||9166.81|
|Daily Pivot Point S2||8920.72|
|Daily Pivot Point S3||8714.03|
|Daily Pivot Point R1||9619.6|
|Daily Pivot Point R2||9826.29|
|Daily Pivot Point R3||10072.38|
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