Bitcoin Price Analysis: Where could we find some support? - Cryptonic News

Bitcoin Price Analysis: Where could we find some support?

  • On another terrible day for cryptocurrencies, Bitcoin falls over 5%.
  • The chart below shows where the market might find some support zones.

BTC/USD Daily Chart

Bitcoin has had another bearish session falling over 5%.

Now the market has taken out some key level lets look at where the market could find support.

The BTC/USD pair seems to respect Fibonacci and Elliott Wave.

So keep an eye on the 61.8% Fibonacci retracement from the current wave at 7,990.00.

This is obviously close to the 8K psychological level.

Before that 8,500 looks like a good support level as the price has been pretty sticky there in the past.

This does look like a new 5 wave pattern lower, if this is the case we would be in the wave 3 moving down.

The 3rd wave is traditionally the longest so hold on for the ride.

BTC/USDBTC/USD

Additional Levels

BTC/USD

OVERVIEW
Today last price8825.47
Today Daily Change-480.84
Today Daily Change %-5.17
Today daily open9306.31
TRENDS
Daily SMA209896.72
Daily SMA509204.06
Daily SMA1008267.82
Daily SMA2008844.64
LEVELS
Previous Daily High9680.16
Previous Daily Low9239.78
Previous Weekly High10307.33
Previous Weekly Low9309.77
Previous Monthly High9568.13
Previous Monthly Low6856.63
Daily Fibonacci 38.2%9408.01
Daily Fibonacci 61.8%9511.94
Daily Pivot Point S19137.34
Daily Pivot Point S28968.37
Daily Pivot Point S38696.96
Daily Pivot Point R19577.72
Daily Pivot Point R29849.13
Daily Pivot Point R310018.11

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Bitcoin Price Analysis: Where could we find some support? Bitcoin Price Analysis: Where could we find some support? Reviewed by Staff Reporter on February 27, 2020 Rating: 5

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