TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

BTC/USD Price Analysis: Bulls defy Sunday sell-off to regain 11,000

  • BTC/USD seesaws in a range above 10,930 following the previous day’s downpour.
  • RSI conditions question the optimists but a trend line support from October 2019 stops the bears.
  • August 2019 top can lure the bulls beyond the latest high, multiple supports await sellers during the fall.
BTC/USD Price Analysis: Bulls defy Sunday sell-off to regain 11,000
Anil PanchalAnil PanchalFXStreet

BTC/USD follows the general market pullback while picking up the bids near 11,170, up 0.90% on a day, during early Monday. The Bitcoin major dropped heavily on Sunday but couldn’t slip beneath a slightly downward sloping trend line from October 26, 2019. As a result, buyers remain hopeful amid upbeat MACD conditions.

Hence, July 27 top around 11,720 and Saturday’s high of 11,883 can become their immediate favorites during the further upside.

However, overbought RSI conditions may again challenge the buyers near Sunday’s peak of 12,115, if not then August 2019 top near 12,325 will be on their radars.

Meanwhile, a downside break below the aforementioned support line, at 10,560 now, could drag the quote to the May month’s top near 10,400. It should also be noted that there are multiple supports around 10,000 in a case where the Crypto major fails to bounce off 10,400.

BTC/USD daily chart

Trend: Bullish

Additional important lelvels

Overview
Today last price11175.87
Today Daily Change107.16
Today Daily Change %0.97%
Today daily open11068.71
 
Trends
Daily SMA2010024.2
Daily SMA509578.61
Daily SMA1009400.36
Daily SMA2008712.38
 
Levels
Previous Daily High12112.72
Previous Daily Low10583.38
Previous Weekly High11457.43
Previous Weekly Low9662.3
Previous Monthly High11457.43
Previous Monthly Low8907.52
Daily Fibonacci 38.2%11167.59
Daily Fibonacci 61.8%11528.51
Daily Pivot Point S110397.15
Daily Pivot Point S29725.59
Daily Pivot Point S38867.8
Daily Pivot Point R111926.5
Daily Pivot Point R212784.28
Daily Pivot Point R313455.84

Author

Anil Panchal

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

More from Anil Panchal
Share:

Editor's Picks

Ripple and Stellar outlook: XRP defends key support, XLM awaits breakout as derivatives strengthen

Ripple and Stellar outlook: XRP defends key support, XLM awaits breakout as derivatives strengthen

Ripple and Stellar show divergent technical outlooks as traders assess whether the recent weakness could give way to a recovery. XRP is finding support and defining a key support zone, while XLM slips below a cluster of Exponential Moving Averages.

Crypto Overview: Bitcoin holds steady, resonates with Gold – ARB, PYTH extend gains

Crypto Overview: Bitcoin holds steady, resonates with Gold – ARB, PYTH extend gains

Bitcoin price hovers above $77,000 on Thursday, losing bullish momentum as its correlation with Gold has risen to nearly 50% over the last 90 days. Arbitrum and Pyth Network recorded double-digit gains over the last 24 hours, emerging as top performers.

Bitcoin holds $63K and $86K range as profit-taking risk builds

Bitcoin holds $63K and $86K range as profit-taking risk builds

Bitcoin's recovery faces growing resistance as the market trades between a major accumulation zone below current prices and a dense concentration of potential supply overhead, according to a Glassnode report published Wednesday.

Robinhood Chain hits record daily fee revenue, boosts Arbitrum

Robinhood Chain hits record daily fee revenue, boosts Arbitrum

Robinhood Chain generated a record $3.75 million in daily fees on Tuesday, making it the third-highest of the day behind Uniswap (UNI) and Pons, according to data from DeFiLlama. The figure marked the network's fourth consecutive day of record daily fee revenue and its highest single-day total since launching its mainnet on July 1.
Bitcoin: Billions in ETF inflows push BTC toward decisive breakout

Bitcoin: Billions in ETF inflows push BTC toward decisive breakout

Bitcoin (BTC) extends gains so far this week, trading near $80,000 after testing the 50-week Simple Moving Average (SMA) at $81,114 earlier. Strong institutional demand is supporting the rally, with spot BTC Exchange Traded Funds (ETFs) on track to record a second consecutive week of billion-dollar inflows.