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

BTC/USD technical analysis: Bitcoin finds some support but where will it go now?

  • BTC/USD trades 3.39% higher today after the fall on Wednesday.
  • There are a couple of resistance levels to keep an eye on.
BTC/USD technical analysis: Bitcoin finds some support but where will it go now?
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

After falling to hit a low of 7,296.44 on Wednesday BTC/USD has found some support but is still in a downtrend.

On the upside, a natural resistance is the previous consolidation low of 7,701.00 and price is there as we speak.

Above that, the 8K psychological level is just over the horizon and it is just under the peak of the volume profile volume point of control (VPOC) for that distribution.

Then if the bulls really do manage to take control 9,071.00 is next.

On the downside other than the level that the Bitcoin price just bounced off the next low down is 5,777.00.

Bitcoin Analysis

BTC/USD

Overview
Today last price7674.54
Today Daily Change 241.67
Today Daily Change % 3.25
Today daily open7432.87
 
Trends
Daily SMA208116.09
Daily SMA508954.86
Daily SMA1009688.21
Daily SMA2008866.98
 
Levels
Previous Daily High7510.05
Previous Daily Low7358.98
Previous Weekly High8469.7
Previous Weekly Low7820.15
Previous Monthly High10942.68
Previous Monthly Low7706.37
Daily Fibonacci 38.2%7416.69
Daily Fibonacci 61.8%7452.34
Daily Pivot Point S17357.88
Daily Pivot Point S27282.9
Daily Pivot Point S37206.82
Daily Pivot Point R17508.95
Daily Pivot Point R27585.03
Daily Pivot Point R37660.02

Author

Rajan Dhall, MSTA

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

More from Rajan Dhall, MSTA
Share:

Editor's Picks

Ripple Price Forecast: Sellers retain control as Evernorth Holdings files with SEC to buy more XRP

Ripple Price Forecast: Sellers retain control as Evernorth Holdings files with SEC to buy more XRP

Ripple’s (XRP) correction on Monday is deepening below $1.30, reflecting growing headwinds in the broader cryptocurrency market. Based on the token’s technical picture, the path of least resistance could stay downward until the $1.30 supply area flips into support.

Bitcoin stalls around $80,000 as geopolitical tensions dampen risk appetite

Bitcoin stalls around $80,000 as geopolitical tensions dampen risk appetite

Bitcoin hovers around $80,500 on Monday after three straight weeks of correction. Rising geopolitical tensions in the Middle East continue to push oil prices higher, stoking inflation concerns and dampening risk appetite.

Crypto Today: Bitcoin, Ethereum and XRP extend losing streak as bearish momentum builds

Crypto Today: Bitcoin, Ethereum and XRP extend losing streak as bearish momentum builds

Cryptocurrency prices are broadly correcting on Monday, led by Bitcoin’s five-day sell-off. Ethereum edges lower and trades around $2,325, as sellers build momentum to retain control over the trend. Meanwhile, Ripple shows signs of consolidating.

Pi Network Forecast: PI token remains under bearish pressure despite network access and security upgrade

Pi Network Forecast: PI token remains under bearish pressure despite network access and security upgrade

Pi Network trades around $0.075 on Monday, holding steady after two consecutive days of roughly 2% losses, resulting in the lowest weekly close ever. Pi Network rolled out desktop version 0.6.4 on Thursday, focused on improving remote access and security for local AI apps.

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.