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Bitcoin Price Analysis: BTC/USD bears take control, the price breaks below the SMA 20

  • BTC/USD is currently consolidating in a triangle formation.
  • The Elliott Oscillator has had five straight red sessions.
Bitcoin Price Analysis: BTC/USD bears take control, the price breaks below the SMA 20
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily chart

BTC/USD daily chart

BTC/USD fell from $6,876.98 to $6,712.75 this Wednesday as it continues to consolidate in a triangle formation. The bearish price action dropped BTC/USD below the SMA 20 curve. The upward trending line needs to hold firm to inhibit further price drop. The MACD indicates decreasing bullish momentum, while the Elliott Oscillator has had five straight red sessions.

Key levels

BTC/USD

Overview
Today last price6701.72
Today Daily Change-175.48
Today Daily Change %-2.55
Today daily open6877.2
 
Trends
Daily SMA206778.42
Daily SMA507093.84
Daily SMA1008133.51
Daily SMA2008031.31
 
Levels
Previous Daily High6990.17
Previous Daily Low6772.07
Previous Weekly High7468.81
Previous Weekly Low6681.12
Previous Monthly High9215.51
Previous Monthly Low3886.49
Daily Fibonacci 38.2%6906.86
Daily Fibonacci 61.8%6855.39
Daily Pivot Point S16769.46
Daily Pivot Point S26661.72
Daily Pivot Point S36551.36
Daily Pivot Point R16987.56
Daily Pivot Point R27097.91
Daily Pivot Point R37205.65


 

Author

Rajarshi Mitra

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.

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