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Bitcoin

Bitcoin Technical Analysis: BTC/USD fighting for $9,500 and

  • Bitcoin is up 2% breaking above $9,400 and the daily 12-EMA and the 26-EMA.
  • The correlation between BTC and SP500 seems to be broken.

After a calm weekend, Bitcoin sees a significant bounce from $9,269 to $9,509. Bulls were stopped right at $9,500, but they have managed to push BTC above the daily 12-EMA at $9,431 and the 26-EMA a $9,424. Both EMAs were extremely close to a bear break but it seems this move will stop it. 

BTC/USD daily chart

BTCUSD

Bitcoin is trading above the daily 12-EMA and the 26-EMA and has formed a clear higher low at $9.160 compared to the low of $8,899 formed on June 15. Bulls have the possibility to create a daily uptrend or an equilibrium if they establish a lower high compared to $9,589 which is now the most important resistance level to beat. If the level is broken and Bitcoin can close above it, the daily uptrend will be confirmed. 

BTC/USD 4-hour chart

BTCUSD

The 4-hour chart is great to check if the bull move is healthy and it is. The 2% surge happened over the course of 16 hours distributed in four candlesticks. The 4-hour EMAs have crossed bullishly but the RSI is overbought. Buyers have confirmed a 4-hour uptrend now and will look for consolidation next.

BTC/USD technical levels

BTC/USD

OVERVIEW
Today last price9481.75
Today Daily Change196.37
Today Daily Change %2.11
Today daily open9285.38
TRENDS
Daily SMA209537.19
Daily SMA509402.76
Daily SMA1008133.86
Daily SMA2008260.28
LEVELS
Previous Daily High9418.33
Previous Daily Low9274.96
Previous Weekly High9589.87
Previous Weekly Low8899.05
Previous Monthly High10074.48
Previous Monthly Low8105.58
Daily Fibonacci 38.2%9329.72
Daily Fibonacci 61.8%9363.56
Daily Pivot Point S19234.11
Daily Pivot Point S29182.85
Daily Pivot Point S39090.74
Daily Pivot Point R19377.48
Daily Pivot Point R29469.59
Daily Pivot Point R39520.85
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