- 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|
|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|