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Bitcoin technical analysis: BTC/USD bears heading for move towards psychological $10,000 territory

Bitcoin price in the second half of Tuesday is trading in the red, down some 1.35%.
BTC/USD price action remains weighted to the downside, following the rejection within supply around $12,000 region.
Price action via the daily chart view is constructing a potential inverse head and shoulders pattern.

Ken Chigbo Independent Analyst

Spot rate: 11,202.10

Relative change: -2.30%

High: 11,439.75

Low: 11,200.23

BTC/USD

Overview
Today last price	11206.33
Today Daily Change	-180.35
Today Daily Change %	-1.58
Today daily open	11386.68

Trends
Daily SMA20	10684.78
Daily SMA50	10960.89
Daily SMA100	9489.18
Daily SMA200	6856.65

Levels
Previous Daily High	11551.22
Previous Daily Low	11222.3
Previous Weekly High	12325.08
Previous Weekly Low	10564.42
Previous Monthly High	13195.19
Previous Monthly Low	9080.79
Daily Fibonacci 38.2%	11347.95
Daily Fibonacci 61.8%	11425.57
Daily Pivot Point S1	11222.25
Daily Pivot Point S2	11057.82
Daily Pivot Point S3	10893.33
Daily Pivot Point R1	11551.17
Daily Pivot Point R2	11715.65
Daily Pivot Point R3	11880.09

BTC/USD daily chart

Price action via the daily is forming an inverse head and shoulders structure.

BTC/USD 60-minute chart

The price via 60-minute chart view has extended to the do

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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BTC/USD

BTC/USD daily chart

BTC/USD 60-minute chart

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