BTC/USD Technical Analysis: Bulls lose out as Bitcoin breaks below $5,000

Rajarshi Mitra Independent Analyst

BTC/USD Daily Chart

BTC/USD went down from $5,043 to $4,940 in the early hours of Friday.
BTC/USD was trending in a channel before having a bearish breakout this Thursday.
The market is trending above the 20-day simple moving average (SMA 20), SMA 50, and SMA 200 curves.
The signal line has taken a turns and is about to converge with the moving average convergence divergence (MACD) line in the MACD indicator. This indicates decreasing bullish momentum.

BTC/USD 4-Hour Chart

The 4-hour BTC/USD price broke through the support provided by the long-running upward trending line.
The Elliot wave oscillator has had seven consecutive bearish sessions.
The Ichimoku indicator shows that further bearish movement is expected in the future.

BTC/USD Hourly Chart

The hourly BTC/USD chart forms a triangle pattern from which the market has had a bearish breakout.
The price has plummeted below the lower band of the 20-day Bollinger band.
The relative strength index (RSI) indicator has crept into the oversold territory.

Key Levels

BTC/USD

Overview
Today last price	4920.18
Today Daily Change	-121.19
Today Daily Change %	-2.40
Today daily open	5041.37

Trends
Daily SMA20	4556.86
Daily SMA50	4152.39
Daily SMA100	3883.9
Daily SMA200	4629.8

Levels
Previous Daily High	5342.4
Previous Daily Low	4969.03
Previous Weekly High	5347.55
Previous Weekly Low	4052.2
Previous Monthly High	4130.71
Previous Monthly Low	3672.34
Daily Fibonacci 38.2%	5111.66
Daily Fibonacci 61.8%	5199.77
Daily Pivot Point S1	4892.8
Daily Pivot Point S2	4744.24
Daily Pivot Point S3	4519.44
Daily Pivot Point R1	5266.17
Daily Pivot Point R2	5490.96
Daily Pivot Point R3	5639.53

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

XRP, ADA, and SOL are vulnerable to deeper losses

The top altcoins, including Ripple, Cardano and Solana, are trading in the red as the broader cryptocurrency market faces downside pressure. The bearish pressure aligns with Citadel Securities' anticipation of a surprise Fed rate hike, which could reduce liquidity in high-risk assets, including crypto assets.

XRP and XLM extend correction as bearish pressure builds

Ripple and Stellar remain under pressure on Tuesday after losing over 4% and over 5%, respectively, the previous day. In addition, weakening momentum indicators and deteriorating derivatives metrics suggest sellers remain in control, raising the risk of further downside for both altcoins. Derivatives data shows a slight bearish tilt.

Bitcoin risks losing $63,000 – FET, SHIB lead losses

Bitcoin edges lower on Tuesday, extending its losses of over 2% from the previous day. The broader crypto market suffered nearly $600 million in liquidations over the last 24 hours amid renewed sell-off pressure. Artificial Superintelligence Alliance and Shiba Inu have emerged as the worst-performing crypto assets in the same time period.

Pump.fun surges following rising revenue and social push

PUMP, the native crypto of token launchpad Pump.fun, saw double-digit gains on Monday, rising to nearly $0.00220, its highest level in about 11 weeks, before easing. The recent gains have stretched its 14- and 30-day performance above 38% and 50%, respectively.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.