Bitcoin technical analysis: BTC/USD sellers chop off gains risking a return to $8,000

  • Bitcoin short-term bearish signal getting stronger as the cryptocurrency market retraces.
  • The MACD in the daily range remains positive suggesting bulls would soon recommence the uptrend towards $9,000.

Trend: Short-term bearish

Volatility: High

Relative change: -207

Percentage change: 2.48%

BTC/USD daily chart

Bitcoin is trading within the apex of a falling wedge pattern, in turn, hinting a breakout in the near-term.

The price is still below the 50-day Simple Moving Average (SMA) which upside correction will continue to be suppressed.

BTC/USD 240-minutes chart

Bitcoin makes a comeback in the wide range between $8,500 and $7,700.

The 50 SMA stays in line to offer support above $8,000.

The Moving Average Convergence Divergence (MACD) suggests that Bitcoin bulls have the energy to keep the price above $,000.

BTC/USD hourly chart

Bitcoin defends ascending channel support following the false breakout above $8,800 on Friday.

The short-term trend remains bearish bias as the MACD dives under the zero line.


Today last price 8396.2
Today Daily Change -190.37
Today Daily Change % -2.22
Today daily open 8586.57
Daily SMA20 8507.63
Daily SMA50 9521.84
Daily SMA100 10148.57
Daily SMA200 8608.86
Previous Daily High 8658.54
Previous Daily Low 8455.95
Previous Weekly High 8532.46
Previous Weekly Low 7706.37
Previous Monthly High 10942.68
Previous Monthly Low 7706.37
Daily Fibonacci 38.2% 8533.34
Daily Fibonacci 61.8% 8581.15
Daily Pivot Point S1 8475.5
Daily Pivot Point S2 8364.43
Daily Pivot Point S3 8272.9
Daily Pivot Point R1 8678.09
Daily Pivot Point R2 8769.61
Daily Pivot Point R3 8880.68



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Cash price analysis: BCH/USD inching closer to flag pattern breakout

Bitcoin Cash is intentional with this current bullish momentum. The price has been able to sustain above the short-term ascending channel despite testing it twice. The brief deep under $220 support saw Bitcoin Cash make a comeback above $225. 

More Bitcoin Cash News

Ethereum market update: ETH/USD locked in a range after the recent sell-off

ETH has been moving in a tight range after a strong sell-off from the recent high of $197.00. The second-largest con with the current market value of $19.8 billion has recovered from October 12 low of $177.22 to trade at $183.50 at the time of writing, however, the upside momentum is weak. 

More Ethereum News

TRON price analysis: TRX/USD may retest the recent high

At the time of writing, TRX/USD is changing hands at $0.0166. The coin has gained over 4.5% in seven 24 days, and the upside momentum is still strong. Currently, TRON takes 11th place in the global cryptocurrency market rating with a market value of $1.1 billion and an average daily trading value of $638 million.

More Tron News

EOS mainnet used in tokenizing Deutsche Bank bond

The Deutsche Bank dBonds team has successfully tokenized the bank’s bond on EOS mainnet. The tokenization took place in collaboration with Queen Street Finance, an authorized UK-based custodian. Queen Street Finance already has a stablecoin digital asset DUSD that runs on EOS protocol.

More EOS News


Bitcoin Weekly Forecast: BTC bulls trapped below SMA200 daily

Bitcoin bulls have had a short glimpse of victory only to suffer a bitter disappointment this week.

Read the weekly forecast