TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Bitcoin technical analysis: BTC/USD price subject to a $9000 return

  • Bitcoin price in the session on Wednesday is trading in negative territory by some 2.15%.
  • BTC/USD momentum remains tilted to the downside, dropping for the past three consecutive sessions. 
  • The $10,000 price mark is losing much ground, with eyes on a potential return down to $9000. 
Bitcoin technical analysis: BTC/USD price subject to a $9000 return
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 10,627.56

Relative change:      -2.15%

High:                         10,859.91

Low:                          10,356.45

BTC/USD

Overview
Today last price10440.85
Today Daily Change-416.46
Today Daily Change %-3.84
Today daily open10857.31
 
Trends
Daily SMA2010739.16
Daily SMA5010957.44
Daily SMA1009540.09
Daily SMA2006893.17
Levels
Previous Daily High11439.76
Previous Daily Low10746.53
Previous Weekly High12325.08
Previous Weekly Low10564.42
Previous Monthly High13195.19
Previous Monthly Low9080.79
Daily Fibonacci 38.2%11011.34
Daily Fibonacci 61.8%11174.94
Daily Pivot Point S110589.3
Daily Pivot Point S210321.3
Daily Pivot Point S39896.07
Daily Pivot Point R111282.53
Daily Pivot Point R211707.76
Daily Pivot Point R311975.76

BTC/USD daily chart

  • Pressure remains very much to the south, as the price has been falling for the past three sessions in a row. $12,000 rejection last week was the entry for the bears.  The next major area of demand can be observed at $10,00-9000 range. 

BTC/USD 4-hour chart

  • Price action smashed out from a bearish pennant structure, allowing BTC further room to drop.

Author

Ken Chigbo

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.

More from Ken Chigbo
Share:

Editor's Picks

Cardano Price Forecast: Approaches critical support as correction risks grow

Cardano Price Forecast: Approaches critical support as correction risks grow

Cardano (ADA) recovers slightly, trading at $0.206 at the time of writing on Friday, inches above the critical support zone after losing more than 6% so far this week. Weakening derivatives data and fading bullish momentum suggest a bearish near-term outlook, with a decisive close below the support zone potentially triggering a deeper correction for ADA.
Crypto Overview: Bitcoin slips below $77,000 – Raydium, Falcon Finance hold gains

Crypto Overview: Bitcoin slips below $77,000 – Raydium, Falcon Finance hold gains

Bitcoin price trades below $77,000 on Friday, extending its capitulation from the previous week’s high at $82,300. Broader market consensus points to a higher likelihood that the US Federal Reserve could raise interest rates at the September meeting, as inflation concerns rise amid the war with Iran.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC pullback, ETH stalls, XRP weakens

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC pullback, ETH stalls, XRP weakens

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) remain under pressure on Friday as the broader cryptocurrency market extends its losses over 4%, 2.5% and 5%, respectively, this week.
Ethereum Price Forecast: ETH holds above $2,400 as PPI data strengthens rate hike expectations

Ethereum Price Forecast: ETH holds above $2,400 as PPI data strengthens rate hike expectations

Ethereum (ETH) is down 0.7% on Thursday as the second-largest cryptocurrency looks to recover from earlier pressure following the release of stronger US inflation data. The Producer Price Index (PPI) for final demand rose 0.4% in August, matching market expectations after a revised 0.1% increase in July, according to the US Labor Department.
Bitcoin: Gearing up for a sharp move

Bitcoin: Gearing up for a sharp move

Bitcoin (BTC) is trading around $81,000 on Friday, up over 4% so far this week, and awaits a key catalyst that could determine its next directional move. Strong institutional demand is supporting the bullish price action, with spot BTC Exchange Traded Funds (ETFs) on track to record a third straight week of inflows.