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


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

 


 

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 Price Analysis: BTC bulls may hit a brick wall on approach to $9,800

Bitcoin (BTC) extended the recovery to trade at $9,750 at the time of writing. The first digital asset bottomed at $9,300 on February 19 amid massive sell-off and managed to regain some ground since that time. 

More Bitcoin News

Ripple Price Weekly Forecast: XRP/USD road to $0.35 mapped

As the week grinds toa halt, cryptocurrencies are rolling in a positive direction. The positive resonation comes after a couple of days that saw bulls paralyzed in the cryptocurrency market.

More Ripple News

Cardano launched hardfork OBFT; ADA/USD extends the recovery

Cardano (ADA), now the 11th largest digital asset with the current market value of $1.5 billion, has gained 2.7% in recent 24 hours to trade at $0.0590 at the time of writing.

More Cardano News

BCH/USD sprints to $380 amid development tax disagreements

Bitcoin Cash explored the region at $350 as I discussed in the previous article. However, the bulls quickly entered the market ready to buy low and push the price upwards. BCH/USD is already in the green ...

More Bitcoin Cash News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast

BTC

ETH

XRP