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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.
Bitcoin Technical Analysis: Key rejection of an important intraday technical zone
Rajan Dhall, MSTARajan Dhall, MSTAFX 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.

Bitcoin Analysis

Additional Levels

BTC/USD

Overview
Today last price7802.24
Today Daily Change-242.31
Today Daily Change %-3.01
Today daily open8044.55
 
Trends
Daily SMA207362.13
Daily SMA507329.81
Daily SMA1007921.88
Daily SMA2009221.18
 
Levels
Previous Daily High8464.41
Previous Daily Low7862.94
Previous Weekly High7525.13
Previous Weekly Low6856.63
Previous Monthly High7770.78
Previous Monthly Low6432.05
Daily Fibonacci 38.2%8092.7
Daily Fibonacci 61.8%8234.65
Daily Pivot Point S17783.53
Daily Pivot Point S27522.5
Daily Pivot Point S37182.06
Daily Pivot Point R18384.99
Daily Pivot Point R28725.44
Daily Pivot Point R38986.46

Author

Rajan Dhall, MSTA

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

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