• BTC difficulty has reached all-time high levels.
  • The daily price chart is presently consolidating below the SMA 20 curve.

Bitcoin difficulty levels have reached all-time high levels of 19.315 T. Difficulty is a metric that determines how tough mining the protocol currently is. Usually, the difficulty increases when there is a lot of mining activity within the network. This makes sure that consistency in block production is maintained.

fxsoriginal

A jump in difficulty usually follows a jump in the overall network hashrate.

fxsoriginal

Bitcoin’s hashrate is also trending around all-time high levels - above 140 Ehash/s. Hashrate is the overall computational power of the whole network. Higher the hashrate, the higher the overall speed and security of the Bitcoin network.

Usually, a high hashrate is a bullish sign; however, things haven’t really turned out that way.

BTC/USD daily chart

BTC/USD daily chart

BTC encountered resistance at $11,075, after which it dropped to $10,415 over the next two days. In the process, it fell below the ascending triangle and the SMA 20 curve. Since then, the price has risen to $10,475 in the early hours of Tuesday. The 20-day Bollinger Jaw is constricting, which hints at decreasing price volatility. This shows that the price has entered a period of consolidation following the recent bearish action. 

The MACD shows that the bullish momentum has been steadily decreasing. For the bulls to regain their momentum, they must take the price up to $10,525 to cross above the SMA 20 curve. However, how much is the premier cryptocurrency’s upside potential? For that, we need to look at the daily confluence detector.

BTC daily confluence detector

fxsoriginal

It looks like we have the upside capped off at $10,600, which has the one-day Bollinger Band middle curve, one-day 38.2% and one-week 61.8% Fibonacci retracement levels. After that, the next strong resistance level is at $11,300, highlighted by the one-day Bollinger Band upper curve, daily Pivot Point one resistance-two, weekly Pivot Point one resistance-one and one-month Fibonacci 61.8% retracement level.

On the downside, there is a moderate resistance level at $9,700, which has the monthly Pivot Point one support-two and weekly Fibonacci 161.8% retracement level.
 


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin Weekly Forecast: BTC bloodbath continues, near 30% down from its ATH

Bitcoin Weekly Forecast: BTC bloodbath continues, near 30% down from its ATH

Bitcoin price extends its decline and trades below $80,000 at the time of writing on Friday, falling over 15% so far this week. This price correction wiped $660 billion of market capitalization from the overall crypto market and saw $3.68 billion in total liquidations this week. 

More Bitcoin News
Cardano poised for double-digit drop amid market weakness

Cardano poised for double-digit drop amid market weakness

Cardano price is extending its decline by nearly 7%, trading around $0.60 on Friday after falling 23% this week. Santiment data support this decline as ADA daily active addresses are falling, and the technical outlook indicates a continued correction, with ADA potentially facing an additional double-digit decline.

More Cardano News
XRP short-term holders dominate sell-off as whales buy the dip

XRP short-term holders dominate sell-off as whales buy the dip

XRP short-term holders dominated the selling activity during the recent market crash. XRP whales have been accumulating more tokens during the crash, adding over $1 billion worth of tokens. XRP could bounce off the lower boundary of a descending channel if it fails to hold the $1.96 support level.

More Ripple News
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP continue to sell off

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP continue to sell off

Bitcoin (BTC) price continues declining on Friday after falling more than 15% this week. Ethereum (ETH) and Ripple (XRP) followed BTC’s footsteps and declined by nearly 24% and 21%, respectively.

More Cryptocurrencies News
Bitcoin: BTC bloodbath continues, near 30% down from its ATH

Bitcoin: BTC bloodbath continues, near 30% down from its ATH

Bitcoin (BTC) price extends its decline and trades below $80,000 at the time of writing on Friday, falling over 15% so far this week. This price correction wiped $660 billion of market capitalization from the overall crypto market and saw $3.68 billion in total liquidations this week.

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP