- Bitcoin disappoints on Tuesday as sentiment remains weak.
- There is a firm consolidation pattern but there is some hope from the technical indicators.
Bitcoin daily chart
Bitcoin trades lower on Tuesday as general crypto sentiment remain weak. The market seems to be stuck between a rock and a hard place since the halving event took place last week. Now BTC/USD dipped below the 9K level after rejecting the 10K resistance zone twice in relatively quick succession. Now the price looks stuck between 8-10K there needs to be a firm breakout on good volume to determine the future path of the digital gold.
There are some positives on the technical side, the price is trading above the 200 and 55 moving averages. The MACD signal line is still holding above the zero line despite the histogram being under (in the red). The Relative Strength Index indicates is still above the 50 mid-point. The key support level remains the wave low of 8105.58 and if this breaks then a lower high lower low sequence would kick in.
|Today last price||8861.11|
|Today Daily Change||-38.98|
|Today Daily Change %||-0.44|
|Today daily open||8900.09|
|Previous Daily High||8978.49|
|Previous Daily Low||8637.26|
|Previous Weekly High||9957.53|
|Previous Weekly Low||8800.12|
|Previous Monthly High||9476.83|
|Previous Monthly Low||6156.67|
|Daily Fibonacci 38.2%||8848.14|
|Daily Fibonacci 61.8%||8767.61|
|Daily Pivot Point S1||8698.74|
|Daily Pivot Point S2||8497.39|
|Daily Pivot Point S3||8357.51|
|Daily Pivot Point R1||9039.96|
|Daily Pivot Point R2||9179.84|
|Daily Pivot Point R3||9381.19|