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Bitcoin

Bitcoin Technical Analysis: BTC/USD bull flag awaits confirmation to launch Bitcoin above $10,000

  • 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

BTCUSD

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

BTC/USD

OVERVIEW
Today last price9642.88
Today Daily Change-47.05
Today Daily Change %-0.49
Today daily open9689.93
TRENDS
Daily SMA209545.5
Daily SMA509418.35
Daily SMA1008179.1
Daily SMA2008271.77
LEVELS
Previous Daily High9786.22
Previous Daily Low9269.05
Previous Weekly High9589.87
Previous Weekly Low8899.05
Previous Monthly High10074.48
Previous Monthly Low8105.58
Daily Fibonacci 38.2%9588.66
Daily Fibonacci 61.8%9466.61
Daily Pivot Point S19377.24
Daily Pivot Point S29064.56
Daily Pivot Point S38860.08
Daily Pivot Point R19894.41
Daily Pivot Point R210098.9
Daily Pivot Point R310411.58
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