BTC/USD Technical Analysis: Bitcoin is looking bullish - Watch for a break of this level


  • Bitcoin has pushed higher to trade flat after being 2% lower earlier in the session.
  • Now the BTC/USD pair is looking to complete the technical inverse head and shoulders pattern.

BTC/USD 1-Hour Chart

Bitcoin is looking to push higher on the hourly chart below.

The chart highlights the inverse head and shoulders formation. 

Now the 7,676 resistance level is in focus as if the price breaks the level it will create a new wave high.

Beyond that, the 8K level could be the next target for the bulls.

Bitcoin analysis

Additional Levels

BTC/USD

Overview
Today last price 7596.14
Today Daily Change 71.14
Today Daily Change % 0.95
Today daily open 7525
 
Trends
Daily SMA20 8151.8
Daily SMA50 8378.39
Daily SMA100 9059.32
Daily SMA200 9367.37
 
Levels
Previous Daily High 7676.01
Previous Daily Low 6850.48
Previous Weekly High 8633.09
Previous Weekly Low 6787.81
Previous Monthly High 10484.7
Previous Monthly Low 7300.54
Daily Fibonacci 38.2% 7360.66
Daily Fibonacci 61.8% 7165.83
Daily Pivot Point S1 7024.98
Daily Pivot Point S2 6524.96
Daily Pivot Point S3 6199.45
Daily Pivot Point R1 7850.52
Daily Pivot Point R2 8176.04
Daily Pivot Point R3 8676.06

 

 

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