BTC/USD technical analysis: Bitcoin making another attempt at the 8,400.00 mark

Flavio Tosti Independent Analyst

BTC/USD daily chart

Bitcoin (BTC/USD) bulls tried to reclaim prices above 8,400.00 but they got overwhelmed by sellers as the market created a double top and an inside bar, suggesting potential weakness ahead.

BTC/USD 4-hour chart

BTC/USD is consolidating below the 8,000.00 figure and just above the 50 SMA. If bears break 7,500.00 support the market can keep dropping towards the 6,500.00 swing low. On the flip side, a break above the 8,400.00 can send the cryptocurrency towards the 8,800.00 level.

Additional key levels

BTC/USD

Overview
Today last price	7731.31
Today Daily Change	-465.56
Today Daily Change %	-5.68
Today daily open	8196.87

Trends
Daily SMA20	6594.89
Daily SMA50	5702.33
Daily SMA100	4773.42
Daily SMA200	4528.76

Levels
Previous Daily High	8304.28
Previous Daily Low	7253.29
Previous Weekly High	8384.67
Previous Weekly Low	6512.15
Previous Monthly High	5632.53
Previous Monthly Low	4052.2
Daily Fibonacci 38.2%	7902.81
Daily Fibonacci 61.8%	7654.77
Daily Pivot Point S1	7532.02
Daily Pivot Point S2	6867.16
Daily Pivot Point S3	6481.02
Daily Pivot Point R1	8583.01
Daily Pivot Point R2	8969.14
Daily Pivot Point R3	9634

Author

Flavio Tosti

Independent Analyst

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