2. Bulls are eyeing the next major barrier to tackle, seen up at around $6500-800, ahead of $7000.
3. BTC/USD breached the $6,000 level for the first time since 14th November 2018.
4. The price went up from $5,940 to $6,050.
5. On the upside, further resistance levels lie between $6,250 and $6,500
Bitcoin price upside immediately capped at $5,890.67 with the second barrier at $5,951.62 and the third hurdle at $6,012.57. Overcoming the sellers’ congestion at these levels could open the door for more movement to the upside that would eventually hit $6,300 and $6,500.
As far as support is concerned, BTC/USD is initially supported at $5,82973. This is strong support as displayed by the confluence detector tool. However, if bear pressure increased and Bitcoin tanks further, $5,646.89 and $5,524.99 will come in handy to stop the losses. Otherwise, sliding below this level could spark more losses with minor support areas in place to halt the trend at $5,403.10 and $5,281.21
Technical View:
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Daily SMA100 4310.85
Daily SMA200 4476.82
Previous Weekly High 5795.47
Previous Weekly Low 5073.04
Previous Monthly High 5632.53
Previous Monthly Low 4052.2
Daily Fibonacci 38.2% 5861.49
Daily Fibonacci 61.8% 5794.85
Daily Pivot Point S1 5631.96
Daily Pivot Point S2 5518.31
Daily Pivot Point S3 5349.62
Daily Pivot Point R1 5914.29
Daily Pivot Point R2 6082.98
Daily Pivot Point R3 6196.63
Trade closed: target reached:
BTCUSD Target is done 7000