BTC/USD Technical Analysis: Bitcoin finds support at the channel low and now looks to be heading higher


  • BTC/USD bounces off the channel low and now trades 4.76% higher on the session.
  • Bulls and hodl'ers will be glad that the market found some support.

BTC/USD Daily Chart

On the daily chart below it is clear to see that Bitcoin bounced off the channel low.

BTC/USD feels like it has been in freefall over the last few sessions and now we could see a base.

If the price gets back over 7,344 then we would see a bullish engulfing candle for the GMT candle close. 

The next major resistance is at 7,830 and this is where the market found support during late September and October.

In terms of psychological levels, 7K looks like a good mark to build from but only time will tell if the bulls can get back in charge.

Bitcoin Technical Analysis

Additional Levels

BTC/USD

Overview
Today last price 7266
Today Daily Change 358.27
Today Daily Change % 5.19
Today daily open 6907.73
 
Trends
Daily SMA20 8459.27
Daily SMA50 8432.81
Daily SMA100 9147.99
Daily SMA200 9344.04
 
Levels
Previous Daily High 7344.35
Previous Daily Low 6867.95
Previous Weekly High 8633.09
Previous Weekly Low 6787.81
Previous Monthly High 10484.7
Previous Monthly Low 7300.54
Daily Fibonacci 38.2% 7049.94
Daily Fibonacci 61.8% 7162.37
Daily Pivot Point S1 6735.67
Daily Pivot Point S2 6563.61
Daily Pivot Point S3 6259.26
Daily Pivot Point R1 7212.07
Daily Pivot Point R2 7516.42
Daily Pivot Point R3 7688.48

 

 


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