TRENDING:

GBP/USD

XAU/USD

BTC/USD Technical Analysis: Bitcoin finds support at the channel low and now looks to be heading higher

BTC/USD bounces off the channel low and now trades 4.76% higher on the session.
Bulls and hodl'ers will be glad that the market found some support.

Rajan Dhall, MSTA FX Daily

BTC/USD Daily Chart

On the daily chart below it is clear to see that Bitcoin bounced off the channel low.

BTC/USD feels like it has been in freefall over the last few sessions and now we could see a base.

If the price gets back over 7,344 then we would see a bullish engulfing candle for the GMT candle close.

The next major resistance is at 7,830 and this is where the market found support during late September and October.

In terms of psychological levels, 7K looks like a good mark to build from but only time will tell if the bulls can get back in charge.

Additional Levels

BTC/USD

Overview
Today last price	7266
Today Daily Change	358.27
Today Daily Change %	5.19
Today daily open	6907.73

Trends
Daily SMA20	8459.27
Daily SMA50	8432.81
Daily SMA100	9147.99
Daily SMA200	9344.04

Levels
Previous Daily High	7344.35
Previous Daily Low	6867.95
Previous Weekly High	8633.09
Previous Weekly Low	6787.81
Previous Monthly High	10484.7
Previous Monthly Low	7300.54
Daily Fibonacci 38.2%	7049.94
Daily Fibonacci 61.8%	7162.37
Daily Pivot Point S1	6735.67
Daily Pivot Point S2	6563.61
Daily Pivot Point S3	6259.26
Daily Pivot Point R1	7212.07
Daily Pivot Point R2	7516.42
Daily Pivot Point R3	7688.48

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Crypto Today: Bitcoin, Ethereum, XRP slide further as risk-off sentiment deepens

Bitcoin faces extended pressure as institutional investors reduce their risk exposure. Ethereum’s upside capped at $3,000, weighed down by ETF outflows and bearish signals. XRP slides toward November’s support at $1.82 despite mild ETF inflows.

Ripple eyes record high breakout in 2026 as Ripple scales infrastructure

XRP has traded under pressure, but short-term support keeps hopes of a sustainable recovery in 2026 alive. The launch of XRP ETFs and regulatory clarity in the US pave the way for institutional adoption.

Bitcoin risks deeper correction as ETF outflows mount, derivative traders stay on the sidelines

Bitcoin (BTC) remains under pressure, trading below $87,000 on Wednesday, nearing a key support level. A decisive daily close below this zone could open the door to a deeper correction.

Monero builds momentum amid bullish bets and looming resistance

Monero (XMR) trades close to $430 at press time on Wednesday, after a 5% jump on the previous day. The privacy coin regains retail interest, evidenced by heightened Open Interest and long positions.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

BTC/USD Daily Chart

Additional Levels

BTC/USD

Legal Text

Markets move fast. We move first.

Editor's Picks