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11 August 2022
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Bitcoin

Bitcoin Technical Analysis: BTC/USD almost slipping below $9,000 as selling pressure keeps mounting

  • BTC/USD touched $9,028 but was able to bounce back to $9,134.
  • Bears are slowly taking over while bulls are trying to defend the crucial $9,000 support level.

The daily uptrend of Bitcoin was lost after $9,160 was broken on June 25. Bears are seeing continuation and targeting $9,000 next. The 12-EMA and the 26-EMA have crossed bearishly for the first time since February 26.

BTC/USD 4-hour chart

BTCUSD

The 4-hour chart, although in a downtrend, could easily shift in favor of the bulls. The last low is established at $8,988 and buyers have defended $9,028 setting a higher low which could turn into a 4-hour uptrend if they can climb above $9,337. 

Before that, bulls need to crack the 12-EMA at $9,231 and the 26-EMA at $9,309. After that point, there isn’t really a lot of resistance towards $9,750.

BTC/USD technical levels

BTC/USD

OVERVIEW
Today last price 9158.25
Today Daily Change -81.76
Today Daily Change % -0.88
Today daily open 9240.01
TRENDS
Daily SMA20 9499.22
Daily SMA50 9439.89
Daily SMA100 8303.47
Daily SMA200 8299.68
LEVELS
Previous Daily High 9337.17
Previous Daily Low 8988.56
Previous Weekly High 9589.87
Previous Weekly Low 8899.05
Previous Monthly High 10074.48
Previous Monthly Low 8105.58
Daily Fibonacci 38.2% 9121.73
Daily Fibonacci 61.8% 9204
Daily Pivot Point S1 9039.99
Daily Pivot Point S2 8839.97
Daily Pivot Point S3 8691.39
Daily Pivot Point R1 9388.6
Daily Pivot Point R2 9537.19
Daily Pivot Point R3 9737.21
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