Bitcoin Technical Analysis: Key rejection of an important intraday technical zone

Bitcoin has fallen 2.90% after rejecting a key intraday zone.
The price bounced off the moving average and trendline.

Rajan Dhall, MSTA FX Daily

BTC/USD Hourly Chart

BTC/USD has fallen back below 8K.

The price bounced back off the 55 hourly EMA and also rejected the trendline.

The good news for the bulls is that the price is still above the 200 EMA.

Interestingly, the RSI is in an oversold area so there could be some near term relief.

The next support zone is close to the 7,500 area but there was some brief support at 7,743.50.

Additional Levels

BTC/USD

Overview
Today last price	7802.24
Today Daily Change	-242.31
Today Daily Change %	-3.01
Today daily open	8044.55

Trends
Daily SMA20	7362.13
Daily SMA50	7329.81
Daily SMA100	7921.88
Daily SMA200	9221.18

Levels
Previous Daily High	8464.41
Previous Daily Low	7862.94
Previous Weekly High	7525.13
Previous Weekly Low	6856.63
Previous Monthly High	7770.78
Previous Monthly Low	6432.05
Daily Fibonacci 38.2%	8092.7
Daily Fibonacci 61.8%	8234.65
Daily Pivot Point S1	7783.53
Daily Pivot Point S2	7522.5
Daily Pivot Point S3	7182.06
Daily Pivot Point R1	8384.99
Daily Pivot Point R2	8725.44
Daily Pivot Point R3	8986.46

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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Bitcoin Technical Analysis: Key rejection of an important intraday technical zone