BTC/USD technical analysis: Bitcoin starts to sell off on the intraday timeframe

BTC/USD stalls at USD 9,500 and sells off USD 300.
The hourly chart has made a lower high - lower low formation.

Rajan Dhall, MSTA FX Daily

In the biggest volume move of the day BTC/USD sold off at USD 9,500 to hit a low of 9,180.59.

After the recent rally on Saturday, it's fair to say the market has consolidated.

The volume has been pretty light for most of the US session but as the Asian traders came to the market volume has just picked up.

The next area of support comes in at 8,917.00 which would take out the consolidation low after the aforementioned rally.

BTC/USD

Overview
Today last price	9447.67
Today Daily Change	-101.75
Today Daily Change %	-1.07
Today daily open	9549.42

Trends
Daily SMA20	8278.83
Daily SMA50	8876.89
Daily SMA100	9654.11
Daily SMA200	8925.99

Levels
Previous Daily High	9815.77
Previous Daily Low	9105.41
Previous Weekly High	8784.17
Previous Weekly Low	7300.54
Previous Monthly High	10942.68
Previous Monthly Low	7706.37
Daily Fibonacci 38.2%	9544.41
Daily Fibonacci 61.8%	9376.77
Daily Pivot Point S1	9164.63
Daily Pivot Point S2	8779.84
Daily Pivot Point S3	8454.28
Daily Pivot Point R1	9874.98
Daily Pivot Point R2	10200.55
Daily Pivot Point R3	10585.34

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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