• Bitcoin moves above breakeven for the first time today.
  • The technical bull flag pattern looks vulnerable to an upside break.

 

After the break higher yesterday Bitcoin has consolidated into a bull flag formation.

The technical pattern now looks susceptible to an upside break. 

There is also a relative strength index (RSI) trendline break on the cards that could indicate more upside pressure.

Volume is much lighter than yesterday and if it does not pick up sometimes that is a sign of a false break.

Bitcoin analysis

BTC/USD

Overview
Today last price 8595.88
Today Daily Change  7.01
Today Daily Change %  0.08
Today daily open 8588.87
 
Trends
Daily SMA20 8586.8
Daily SMA50 9552.71
Daily SMA100 10171.01
Daily SMA200 8585.84
 
Levels
Previous Daily High 8690.66
Previous Daily Low 8119.82
Previous Weekly High 8532.46
Previous Weekly Low 7706.37
Previous Monthly High 10942.68
Previous Monthly Low 7706.37
Daily Fibonacci 38.2% 8472.6
Daily Fibonacci 61.8% 8337.88
Daily Pivot Point S1 8242.24
Daily Pivot Point S2 7895.61
Daily Pivot Point S3 7671.4
Daily Pivot Point R1 8813.08
Daily Pivot Point R2 9037.29
Daily Pivot Point R3 9383.92

 

 

 

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