• Bitcoin trades just above flat in a lacklustre session on Tuesday.
  • The market found resistance at the 50% Fibonacci zone.

BTC/USD daily chart

Today bitcoin is trading just above flat as the bulls manage to stem the losses seen on Monday's session. Now the chart structure looks pretty bearish as the market has made a lower high but the orange support zone close to the 38.2% Fib zone would need to be broken to complete the bearish picture. If broken that would make a lower high lower low wave pattern. 

Looking at the indicators now, the price is now under bother the 55 and 200 daily moving averages. The 55 exponential moving average was an important resistance zone which influenced with the 50% Fib retracement zone marked by the red circle. 

The relative strength index indicator has also just moved into negative territory under the 50 mid-line. There is still plenty of room to move lower into the oversold zone, this could mean there is more bearishness on the cards.

Bitcoin Fibonacci Retracement

Additional levels

BTC/USD

Overview
Today last price 6857.35
Today Daily Change 18.02
Today Daily Change % 0.26
Today daily open 6839.33
 
Trends
Daily SMA20 6973.88
Daily SMA50 6880.65
Daily SMA100 8073.54
Daily SMA200 7995
 
Levels
Previous Daily High 7223.22
Previous Daily Low 6754.64
Previous Weekly High 7216.69
Previous Weekly Low 6466.49
Previous Monthly High 9215.51
Previous Monthly Low 3886.49
Daily Fibonacci 38.2% 6933.64
Daily Fibonacci 61.8% 7044.23
Daily Pivot Point S1 6654.9
Daily Pivot Point S2 6470.48
Daily Pivot Point S3 6186.32
Daily Pivot Point R1 7123.49
Daily Pivot Point R2 7407.65
Daily Pivot Point R3 7592.08

 

 


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