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BTC/USD technical analysis: Bitcoin starts to sell off on the intraday timeframe

  • BTC/USD stalls at USD 9,500 and sells off USD 300.
  • The hourly chart has made a lower high - lower low formation.
BTC/USD technical analysis: Bitcoin starts to sell off on the intraday timeframe
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

In the biggest volume move of the day BTC/USD sold off at USD 9,500 to hit a low of 9,180.59.

After the recent rally on Saturday, it's fair to say the market has consolidated.

The volume has been pretty light for most of the US session but as the Asian traders came to the market volume has just picked up.

The next area of support comes in at 8,917.00 which would take out the consolidation low after the aforementioned rally.

Bitcoin Sell Off

BTC/USD

Overview
Today last price 9447.67
Today Daily Change -101.75
Today Daily Change %-1.07
Today daily open9549.42
 
Trends
Daily SMA208278.83
Daily SMA508876.89
Daily SMA1009654.11
Daily SMA2008925.99
 
Levels
Previous Daily High9815.77
Previous Daily Low9105.41
Previous Weekly High8784.17
Previous Weekly Low7300.54
Previous Monthly High10942.68
Previous Monthly Low7706.37
Daily Fibonacci 38.2%9544.41
Daily Fibonacci 61.8%9376.77
Daily Pivot Point S19164.63
Daily Pivot Point S28779.84
Daily Pivot Point S38454.28
Daily Pivot Point R19874.98
Daily Pivot Point R210200.55
Daily Pivot Point R310585.34

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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BTC/USD technical analysis: Bitcoin starts to sell off on the intraday timeframe