Bitcoin Analysis Report With Charting Trends – 08 Sep 2023
08 Sep 2023
As the US dollar reaches a 6-month high, the price of bitcoin faces a 200-week trendline.
Analysts warn that a rising dollar is a threat to risk assets like Bitcoin, which are centered on the 200-week exponential moving average of the price of bitcoin.
BTC price movements were centered on the region around $25,700, according to data from Trading View and Coin Telegraph Markets Pro.
A trip to $26,000 and local lows under $25,400 within a single hourly candle the day before were more volatile than the current situation.
Participants in the bitcoin market were generally wary, and more and more projections of future declines were being made.
BITCOIN: TECHNICAL OVERVIEW
- MA 5: 25923.54 | Negative Crossover | Bearish
- MA 20: 25932.13 | Negative Crossover | Bearish
- MA 50: 26285.16 | Negative Crossover | Bearish
- MA 5: 25912.78 | Negative Crossover | Bearish
- MA 20: 25841.70 | Negative Crossover | Bearish
- MA 50: 26133.71 | Negative Crossover | Bullish
RSI (Relative Strength Index): 73.72 | Buying Zone | Bullish
Stochastic Oscillator: 79.7| Buy Zone | Positive
Resistance And Support Levels:
- R1: 26371.92 | R2: 27139.64
- S1: 25628.96| S2: 24811.70
Overall Sentiment: Bearish | Order Type: Sell
Trade Suggestion: Stop Sell: 25455.60 | Take Profit: 24811.70 | Stop Loss: 25975.67.
Considering increased whale activity, ETH Risks Losing $1,600 Support.
DOGE price range between $0.05 and $0.093 is likely an accumulation phase for the next bullish breakout in the meme coin.
Elsewhere in the Crypto Market
Bitcoin is lower (1.61%) at 25,828.80, Ethereum is down (1.36%) at 1,625.46, Litecoin is down (1.87%) at 62.52, Solana is down (0.37%) at 19.54, Doge coin down (0.12%) at 0.62.