Here are the Levels Bitcoin Can See Today and Critical Pivot Points
Bitcoin faces a high resistance of $ 9,300 and $ 9,400 against the US dollar.
Here are the Levels Bitcoin Can See Today and Critical Pivot Points.
According to popular analyst Aayush Jindal, BTC seems to be preparing for the next big move above $ 9,400 or under $ 9,000.
- Bitcoin remained wide over the $ 9,120 support zone.
- The price struggles to clear the $ 9,300 and $ 9,400 resistance levels.
- On the hourly chart of the BTC / USD pair (data flow from Kraken) there is an important breakout pattern with resistance at $ 9,300 and $ 9,360.
- According to the analyst, the pair may either start a strong rally above $ 9,300 or dive below $ 9,100.
Popular analyst: Bitcoin price approaching next major break
Recently, Bitcoin has made another attempt to gain strength above $ 9,300 against the US dollar. BTC retested the $ 9,330 resistance zone, which prevented the bullish once again. There was a high around $ 9,333 and the price started a new decline. BTC traded below the $ 9,250 and $ 9,220 levels. There was also a proximity below the $ 9,250 level and the 100 hourly simple moving average.
There is a low price around $ 9,194, and the price seems to hold the $ 9,190 support zone. According to a sudden resistance analyst, it is near the $ 9,240 level or the 100 hourly simple moving average. According to the first major resistance analyst, it is close to the 50% Fib retracement level of the last drop. The next major hurdle is near the $ 9,300 level, according to the analyst.
Here are the possible scenarios and levels to see for Bitcoin price
More importantly, according to the analyst, there is an important breakout model formed on the hourly chart of the BTC / USD pair with resistance near $ 9,300 and $ 9,360. To start a strong increase and rally, the price needs to gain strength above the $ 9,300, $ 9,330 and $ 9,360 resistance levels. Finally, a successful close above the $ 9,400 pivot level could open the doors for a larger upward move, according to the analyst.
According to the analyst, Bitcoin price seems to have support levels of $ 9,190 and $ 9,120. If BTC continues to struggle around $ 9,300, there is a risk of a negative break, according to the analyst. According to the analyst, a close close to the bottom of the $ 9,120 support zone could perhaps trigger a significant bearish move. According to the next support analyst, it could be at $ 9,000, followed by a $ 8,800 pivot level weekly.
Current view of Bitcoin price with technical indicators
Hourly MACD: MACD is currently gaining momentum in the bearish zone for the BTC / USD pair.
Hourly RSI (Relative Strength Index): The RSI for BTC / USD is currently well below the 50 level.
Major Support Levels: $ 9,190, then $ 9,120.
Major Resistance Levels: $ 9,260, $ 9,300 and $ 9,360.