BTC/USD technical analysis: Bitcoin bulls cant manage test the highs

BTC/USD gave the highs another test but the bears smashed the attempt.
Today Bitcoin is trading 0.11% lower as crypto sentiment is mixed.

Rajan Dhall, MSTA FX Daily

Bitcoin tried to test the daily high of 8,535.00 but didn't manage to break 8,400.00.

The level to break for the bears is now 8,239.86 and this would make a lower high lower low formation.

There is also a trendline support close to the support level and the last hourly candle is a classic shooting star.

The next support on the way down is 8100.00 which was used to good effect previously.

The relative strength index (RSI) has just dropped the 50 mid-line which could indicate more bearish action.

BTC/USD

Overview
Today last price	8322.52
Today Daily Change	18.15
Today Daily Change %	0.22
Today daily open	8304.37

Trends
Daily SMA20	9507.7
Daily SMA50	9974.01
Daily SMA100	10461.92
Daily SMA200	8393.8

Levels
Previous Daily High	8372.86
Previous Daily Low	7706.37
Previous Weekly High	10092.72
Previous Weekly Low	7728.27
Previous Monthly High	10942.68
Previous Monthly Low	7706.37
Daily Fibonacci 38.2%	8118.26
Daily Fibonacci 61.8%	7960.97
Daily Pivot Point S1	7882.87
Daily Pivot Point S2	7461.37
Daily Pivot Point S3	7216.38
Daily Pivot Point R1	8549.36
Daily Pivot Point R2	8794.36
Daily Pivot Point R3	9215.85

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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