- Bitcoin fails to sustain the rebound above 9100.
- The No.1 coin looks supported around 9075 levels.
- 9140 is the level to beat for the bulls on Monday.
Unusual bouts of volatility were seen over the weekend that drowned Bitcoin (BTC/USD) as low as 8907.51 in the overnight trades. Although the bulls were quick to stage a solid comeback, as the No. 1 coin briefly regained the 9100 barrier in early Asia this Monday.
Despite the latest leg higher, the price failed to resist above the latter, as sellers returned amid a generalized weak sentiment across the crypto space. At the press time, the crypto asset posts small gains to trade around 9080.
BTC/USD: Hourly chart
On the hourly chart, the price continues to remain capped below the horizontal trendline resistance at 9140 while the immediate downside is limited by the 21-hourly Simple Moving Average (HMA) at 9048.70.
The 200-HMA capped the overnight rally near 9115, as the price slips back below the 100-HMA at 9100.
However, the horizontal 50-HMA at 9078 offers some temporary support to the bulls.
All in all, Bitcoin is likely to extend its range play heading into Europe, with a break above the 9140 level critical to reviving the bullish momentum.
BTC/USD: Additional levels to watch
|Today last price||9091.09|
|Today Daily Change||16.85|
|Today Daily Change %||0.19|
|Today daily open||9076.24|
|Previous Daily High||9145.3|
|Previous Daily Low||8907.51|
|Previous Weekly High||9298.41|
|Previous Weekly Low||8933.95|
|Previous Monthly High||10404.88|
|Previous Monthly Low||8823.34|
|Daily Fibonacci 38.2%||8998.35|
|Daily Fibonacci 61.8%||9054.47|
|Daily Pivot Point S1||8940.74|
|Daily Pivot Point S2||8805.23|
|Daily Pivot Point S3||8702.95|
|Daily Pivot Point R1||9178.52|
|Daily Pivot Point R2||9280.81|
|Daily Pivot Point R3||9416.31|