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Bitcoin Price Analysis: BTC/USD explosive breakout eyed small barrier in the way

  • Bitcoin price is trading in negative territory, down 0.70% in the second half of the session. 
  • BTC/USD continues to consolidate underneath the barrier of $7500.
  • Given the narrowing nature of price action, an explosive breakout will be eyed. 

BTC/USD daily chart

A breakdown of the noted barrier at $7500, should invite a fresh wave of buying pressure into the $8000 territory. 

BTC/USD 60-minute chart

Price action is forming a pennant structure, another opportunity for the bulls to capitalize. 

Spot rate:                 7316.05

Relative change:     -0.70%

High:                        7375.97

Low:                         7111.05

BTC/USD

Overview
Today last price 7314.17
Today Daily Change -54.74
Today Daily Change % -0.74
Today daily open 7368.91
 
Trends
Daily SMA20 6602.11
Daily SMA50 7423.77
Daily SMA100 8149.72
Daily SMA200 8116.13
 
Levels
Previous Daily High 7426.72
Previous Daily Low 7154.7
Previous Weekly High 7254.75
Previous Weekly Low 5854.85
Previous Monthly High 9215.51
Previous Monthly Low 3886.49
Daily Fibonacci 38.2% 7322.81
Daily Fibonacci 61.8% 7258.61
Daily Pivot Point S1 7206.83
Daily Pivot Point S2 7044.76
Daily Pivot Point S3 6934.81
Daily Pivot Point R1 7478.86
Daily Pivot Point R2 7588.8
Daily Pivot Point R3 7750.88

 

 

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