Bitcoin technical analysis: BTC/USD vulnerable to fresh wave of selling

  • Bitcoin price is trading in positive territory, up some 1.30% in the second half of the session. 
  • BTC/USD vulnerable to a fresh wave of selling pressure, as key support is being breached.
  • Next major support to the downside would be back within the $7000 price territory. 

BTC/USD weekly chart

The bears will be pushing for a retest of the next major weekly support zone at $7800. 

BTC/USD daily chart

Daily price acting is breaking down critical near-term support seen at $8700. 

Spot rate:                   8,993.28

Relative change:       -1.40%

High:                          8,785.94

Low:                           8,558.73


Today last price 8639.88
Today Daily Change -118.76
Today Daily Change % -1.36
Today daily open 8758.64
Daily SMA20 8935.7
Daily SMA50 8534.03
Daily SMA100 9507.84
Daily SMA200 9214.25
Previous Daily High 8838.91
Previous Daily Low 8706.68
Previous Weekly High 9580.19
Previous Weekly Low 8668.6
Previous Monthly High 10484.7
Previous Monthly Low 7300.54
Daily Fibonacci 38.2% 8757.19
Daily Fibonacci 61.8% 8788.4
Daily Pivot Point S1 8697.25
Daily Pivot Point S2 8635.85
Daily Pivot Point S3 8565.02
Daily Pivot Point R1 8829.47
Daily Pivot Point R2 8900.3
Daily Pivot Point R3 8961.7



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