• 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

 

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Chart Analysis: Symmetrical triangle breakout to power BTC/USD above $9700

BTC/USD has charted a symmetrical triangle breakout in the last hour, opening doors for a test of the pattern target at 9746. Despite the bullish breakout, its likely to remain an uphill task for the bulls to achieve the target, given a bunch of healthy resistance levels. 

More Bitcoin News

XRP/USD: Path of least resistance appears to the downside

XRP/USD is struggling to extend its recovery beyond 0.20 on Saturday, as the bulls remain in a wait-and-see for the fourth straight session. While extending the range play, the bears are seen fighting back control, as suggested by the near-term technical set up.

More Ripple News

BCH/USD: Bulls eye $280 amid falling wedge breakout

Bitcoin Cash (BCH/USD) is consolidating the latest uptick to a daily high of 257.50, having recovered losses following a dip to 253.47. The No. 5 coin has charted a bullish breakout on the hourly chart. The bulls look to extend the upside break to $280.   

More Bitcoin Cash News

Crypto Market Update: Ethereum outperforms its main rivals on the road to recovery

Crypto bulls are trying hard to extend the recovery on Saturday. Ethereum outperforms Bitcoin and Ripple, looking to settle the week with 4.50% gains. The top 2 widely traded coins are poised for additional upside.  

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC/USD needs to go down again before it goes up

After a head-spinning volatility at the beginning of the week, BTC/USD settled above $9,600 with minor gains on a week-on-week basis. A shall Doji candle on a weekly chart is an alarming signal that the bulls are exhausted by uncertainty and large price swings. 

Read the weekly forecast

BTC

ETH

XRP