- After a notable price surge on June 22, Bitcoin established itself at $9,650.
- The daily bull flag can easily break within two to three days.
After rumors from PayPal and Venmo adding cryptocurrency payments, Bitcoin and the rest of the market saw a big pump. BTC/USD peaked at $9,786 before a slight correction to $9,600 but still managed to close at $9,689 above the daily 12-EMA and the 26-EMA which have remained bullish.
BTC/USD daily chart
A clear trend change occurred on June 22 and Bitcoin is trading inside a daily uptrend. There is really not a lot of resistance to the upside, in fact, $10,000 is the only real resistance level that bulls need to worry about.
We know that $10,000 is crucial and Bitcoin has been rejected from the level several times in the past. If the bull flag is confirmed and BTC can climb above $9,786, it could easily break $10,000, this time for good. There are many fundamental metrics in favor of Bitcoin but another rejection at $10K would be devastating.
BTC/USD technical levels
|Today last price||9642.88|
|Today Daily Change||-47.05|
|Today Daily Change %||-0.49|
|Today daily open||9689.93|
|Previous Daily High||9786.22|
|Previous Daily Low||9269.05|
|Previous Weekly High||9589.87|
|Previous Weekly Low||8899.05|
|Previous Monthly High||10074.48|
|Previous Monthly Low||8105.58|
|Daily Fibonacci 38.2%||9588.66|
|Daily Fibonacci 61.8%||9466.61|
|Daily Pivot Point S1||9377.24|
|Daily Pivot Point S2||9064.56|
|Daily Pivot Point S3||8860.08|
|Daily Pivot Point R1||9894.41|
|Daily Pivot Point R2||10098.9|
|Daily Pivot Point R3||10411.58|