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8 August 2022
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Bitcoin Technical Analysis: BTC/USD fighting for $9,500 and

  • Bitcoin is up 2% breaking above $9,400 and the daily 12-EMA and the 26-EMA.
  • The correlation between BTC and SP500 seems to be broken.

After a calm weekend, Bitcoin sees a significant bounce from $9,269 to $9,509. Bulls were stopped right at $9,500, but they have managed to push BTC above the daily 12-EMA at $9,431 and the 26-EMA a $9,424. Both EMAs were extremely close to a bear break but it seems this move will stop it. 

BTC/USD daily chart


Bitcoin is trading above the daily 12-EMA and the 26-EMA and has formed a clear higher low at $9.160 compared to the low of $8,899 formed on June 15. Bulls have the possibility to create a daily uptrend or an equilibrium if they establish a lower high compared to $9,589 which is now the most important resistance level to beat. If the level is broken and Bitcoin can close above it, the daily uptrend will be confirmed. 

BTC/USD 4-hour chart


The 4-hour chart is great to check if the bull move is healthy and it is. The 2% surge happened over the course of 16 hours distributed in four candlesticks. The 4-hour EMAs have crossed bullishly but the RSI is overbought. Buyers have confirmed a 4-hour uptrend now and will look for consolidation next.

BTC/USD technical levels


Today last price 9481.75
Today Daily Change 196.37
Today Daily Change % 2.11
Today daily open 9285.38
Daily SMA20 9537.19
Daily SMA50 9402.76
Daily SMA100 8133.86
Daily SMA200 8260.28
Previous Daily High 9418.33
Previous Daily Low 9274.96
Previous Weekly High 9589.87
Previous Weekly Low 8899.05
Previous Monthly High 10074.48
Previous Monthly Low 8105.58
Daily Fibonacci 38.2% 9329.72
Daily Fibonacci 61.8% 9363.56
Daily Pivot Point S1 9234.11
Daily Pivot Point S2 9182.85
Daily Pivot Point S3 9090.74
Daily Pivot Point R1 9377.48
Daily Pivot Point R2 9469.59
Daily Pivot Point R3 9520.85
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