TRENDING:

XAU/USD

EUR/USD

Bitcoin Technical Analysis: BTC/USD stuck in highway to hell, $3000 now eyed

Bitcoin price nursing deep losses of over 6% in the session on Tuesday.
BTC/USD moving within fast channel to the deep south, as covered in yesterday's article.
Price manages to catch some relief on the lower supporting trend line of the channel.

Ken Chigbo Independent Analyst

BTC/USD 60-minute chart

Spot rate: 4407.77

Relative change: -6.00%

High: 4887.54

Low: 4227.02

Trend: Bearish

Support 1: 4426.88, daily pivot point support.

Support 2: 4310.02, lower support of channel.

Support 3: 3550.70, daily pivot point support.

Resistance 1: 4500.00, 60-minute resistance.

Resistance 2: 4585.00, upper part of channel.

Resistance 3: 5303.50, daily pivot point support.

BTC/USD weekly chart

Weekly chart view for BTC/USD looks worryingsome for the bulls, next major level eyed would be $3000.

Author

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.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Bitcoin Weekly Forecast: BTC hits 20-month low, will the pain continue?

Bitcoin recovers slightly, trading at $66,000 on Friday after reaching a new yearly low of $58,115 earlier this week, its lowest level since October 2024. Institutional selling intensified as spot ETFs recorded $1.35 billion in net outflows through Thursday.

XRP clings to $1 as long liquidations deepen bearish trend

Ripple trades near the key psychological support level of $1 at the time of writing on Friday after losing more than 8% so far this week. CoinGlass liquidation data shows that over 97% XRP long positions were wiped out over the past 24 hours.

Pi Network Price Forecast: Minor recovery amid market crash fuels short-term hope

Pi Network price records a mild 3% recovery at press time on Friday, shaping a rebound from a broken descending trendline. The declining trend in trading volume has stabilized around $10 million this week, supporting the possibility of an extended recovery as selling pressure wanes.

Bitcoin: BTC hits 20-month low, will the pain continue?

Bitcoin (BTC) recovers slightly, trading at $66,000 on Friday after reaching a new yearly low of $58,115 earlier this week, its lowest level since October 2024. Institutional selling intensified as spot Exchange Traded Funds (ETFs) recorded $1.35 billion in net outflows through Thursday.