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

 


 

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