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Bitcoin Technical Analysis: Buyers jumping out of the bulls wagon as BTC crashes below $6,000

Flavio Tosti Independent Analyst

BTC/USD weekly chart

BTC/USD has tried to hold on above $6,000 for the most part of 2018.
A break of the level open the gates to $4,979 (September 1, 2017).

BTC/USD daily chart

BTC/USD is trading below the 50, 100 and 200-day simple moving average suggesting a strong bearish bias.
Technical indicators are in negative territories suggesting more losses ahead.

BTC/USD 30-minute chart

On an intraday basis BTC/USD is way oversold, but considering the crash on the higher time frame, any rally should likely be sold into. Resistance levels are seen near 5,900 and the 6,000 level.

Additional key levels at a glance

BTC/USD

Overview:
    Last Price: 5617.49
    Daily change: -6.4e+4 pips
    Daily change: -10.3%
    Daily Open: 6259.76
Trends:
    Daily SMA20: 6364.22
    Daily SMA50: 6421.06
    Daily SMA100: 6496.84
    Daily SMA200: 6996.42
Levels:
    Daily High: 6327.12
    Daily Low: 6251.2
    Weekly High: 6538.13
    Weekly Low: 6310.18
    Monthly High: 6783.05
    Monthly Low: 6060.88
    Daily Fibonacci 38.2%: 6280.2
    Daily Fibonacci 61.8%: 6298.12
    Daily Pivot Point S1: 6231.6
    Daily Pivot Point S2: 6203.44
    Daily Pivot Point S3: 6155.68
    Daily Pivot Point R1: 6307.52
    Daily Pivot Point R2: 6355.27
    Daily Pivot Point R3: 6383.43

Author

Flavio Tosti

Independent Analyst

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