Bitcoin Price Analysis: Much ado about nothing? Was the halving a non-event?
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BTC/USD fell from $8,727.75 to $8,636.50 as the bears retained control for the fourth straight day. Bitcoin just experienced its third halving event,

  • The MACD indicates a reversal of bullish momentum.
  • The bears have retained control for the fourth straight day.
  • The MACD indicates a reversal of bullish momentum.
  • The MACD indicates a reversal of bullish momentum.
  • The bears have retained control for the fourth straight day.
  • The bears have retained control for the fourth straight day.

    BTC/USD daily chart

    BTC/USD daily chart

    BTC/USD daily chartBTC/USD daily chart

    BTC/USD fell from $8,727.75 to $8,636.50 as the bears retained control for the fourth straight day. Bitcoin just experienced its third halving event, however, it looks like it isn’t going to be the huge bullish event that many were touting it to be. Currently, many fear that miners may quit the market due to the drop in mining profitability.

    $8,727.75 to $8,636.50 third halving event

    The price is trending above the red Ichimoku cloud. The Elliott Oscillator has had two red sessions in a row, while the MACD shows a reversal of bullish momentum. Both these indicators hint that the overall market sentiment is bearish.

    two red sessionsreversal of bullish momentum

    On the downside, the buyers must defend the $8,390 and $8,125 support levels. On the upside, there are two strong resistance levels at $8,829.50 and $9,181.45.

    $8,390 and $8,125 resistance$8,829.50 and $9,181.45.

    Key levels

    BTC/USD

    Overview
    Today last price 8638.77
    Today Daily Change -88.66
    Today Daily Change % -1.02
    Today daily open 8727.43
     
    Trends
    Daily SMA20 8454.34
    Daily SMA50 7448.58
    Daily SMA100 8011.57
    Daily SMA200 8019.1
     
    Levels
    Previous Daily High 9559.74
    Previous Daily Low 8105.58
    Previous Weekly High 10074.48
    Previous Weekly Low 8535.49
    Previous Monthly High 9476.83
    Previous Monthly Low 6156.67
    Daily Fibonacci 38.2% 8661.07
    Daily Fibonacci 61.8% 9004.25
    Daily Pivot Point S1 8035.43
    Daily Pivot Point S2 7343.42
    Daily Pivot Point S3 6581.26
    Daily Pivot Point R1 9489.59
    Daily Pivot Point R2 10251.75
    Daily Pivot Point R3 10943.75

     

    BTC/USD

    Overview
    Today last price 8638.77
    Today Daily Change -88.66
    Today Daily Change % -1.02
    Today daily open 8727.43
     
    Trends
    Daily SMA20 8454.34
    Daily SMA50 7448.58
    Daily SMA100 8011.57
    Daily SMA200 8019.1
     
    Levels
    Previous Daily High 9559.74
    Previous Daily Low 8105.58
    Previous Weekly High 10074.48
    Previous Weekly Low 8535.49
    Previous Monthly High 9476.83
    Previous Monthly Low 6156.67
    Daily Fibonacci 38.2% 8661.07
    Daily Fibonacci 61.8% 9004.25
    Daily Pivot Point S1 8035.43
    Daily Pivot Point S2 7343.42
    Daily Pivot Point S3 6581.26
    Daily Pivot Point R1 9489.59
    Daily Pivot Point R2 10251.75
    Daily Pivot Point R3 10943.75

    BTC/USD

    Overview
    Today last price 8638.77
    Today Daily Change -88.66
    Today Daily Change % -1.02
    Today daily open 8727.43
     
    Trends
    Daily SMA20 8454.34
    Daily SMA50 7448.58
    Daily SMA100 8011.57
    Daily SMA200 8019.1
     
    Levels
    Previous Daily High 9559.74
    Previous Daily Low 8105.58
    Previous Weekly High 10074.48
    Previous Weekly Low 8535.49
    Previous Monthly High 9476.83
    Previous Monthly Low 6156.67
    Daily Fibonacci 38.2% 8661.07
    Daily Fibonacci 61.8% 9004.25
    Daily Pivot Point S1 8035.43
    Daily Pivot Point S2 7343.42
    Daily Pivot Point S3 6581.26
    Daily Pivot Point R1 9489.59
    Daily Pivot Point R2 10251.75
    Daily Pivot Point R3 10943.75

    BTC/USD

    Overview
    Today last price 8638.77
    Today Daily Change -88.66
    Today Daily Change % -1.02
    Today daily open 8727.43
     
    Trends
    Daily SMA20 8454.34
    Daily SMA50 7448.58
    Daily SMA100 8011.57
    Daily SMA200 8019.1
     
    Overview
    Today last price 8638.77
    Today Daily Change -88.66
    Today Daily Change % -1.02
    Today daily open 8727.43
    Overview Overview Overview Today last price 8638.77 Today Daily Change -88.66 Today Daily Change % -1.02 Today daily open 8727.43 Today last price 8638.77 Today last price8638.778638.77 Today Daily Change -88.66 Today Daily Change-88.66-88.66 Today Daily Change % -1.02 Today Daily Change %-1.02-1.02 Today daily open 8727.43 Today daily open8727.438727.43
     
    Trends
    Daily SMA20 8454.34
    Daily SMA50 7448.58
    Daily SMA100 8011.57
    Daily SMA200 8019.1
    Trends Trends Trends Daily SMA20 8454.34 Daily SMA50 7448.58 Daily SMA100 8011.57 Daily SMA200 8019.1 Daily SMA20 8454.34 Daily SMA208454.348454.34 Daily SMA50 7448.58 Daily SMA507448.587448.58 Daily SMA100 8011.57 Daily SMA1008011.578011.57 Daily SMA200 8019.1 Daily SMA2008019.18019.1
     
    Levels
    Previous Daily High 9559.74
    Previous Daily Low 8105.58
    Previous Weekly High 10074.48
    Previous Weekly Low 8535.49
    Previous Monthly High 9476.83
    Previous Monthly Low 6156.67
    Daily Fibonacci 38.2% 8661.07
    Daily Fibonacci 61.8% 9004.25
    Daily Pivot Point S1 8035.43
    Daily Pivot Point S2 7343.42
    Daily Pivot Point S3 6581.26
    Daily Pivot Point R1 9489.59
    Daily Pivot Point R2 10251.75
    Daily Pivot Point R3 10943.75
    Levels
    Previous Daily High 9559.74
    Previous Daily Low 8105.58
    Previous Weekly High 10074.48
    Previous Weekly Low 8535.49
    Previous Monthly High 9476.83
    Previous Monthly Low 6156.67
    Daily Fibonacci 38.2% 8661.07
    Daily Fibonacci 61.8% 9004.25
    Daily Pivot Point S1 8035.43
    Daily Pivot Point S2 7343.42
    Daily Pivot Point S3 6581.26
    Daily Pivot Point R1 9489.59
    Daily Pivot Point R2 10251.75
    Daily Pivot Point R3 10943.75
    Levels Levels Levels Previous Daily High 9559.74 Previous Daily Low 8105.58 Previous Weekly High 10074.48 Previous Weekly Low 8535.49 Previous Monthly High 9476.83 Previous Monthly Low 6156.67 Daily Fibonacci 38.2% 8661.07 Daily Fibonacci 61.8% 9004.25 Daily Pivot Point S1 8035.43 Daily Pivot Point S2 7343.42 Daily Pivot Point S3 6581.26 Daily Pivot Point R1 9489.59 Daily Pivot Point R2 10251.75 Daily Pivot Point R3 10943.75 Previous Daily High 9559.74 Previous Daily High9559.749559.74 Previous Daily Low 8105.58 Previous Daily Low8105.588105.58 Previous Weekly High 10074.48 Previous Weekly High10074.4810074.48 Previous Weekly Low 8535.49 Previous Weekly Low8535.498535.49 Previous Monthly High 9476.83 Previous Monthly High9476.839476.83 Previous Monthly Low 6156.67 Previous Monthly Low6156.676156.67 Daily Fibonacci 38.2% 8661.07 Daily Fibonacci 38.2%8661.078661.07 Daily Fibonacci 61.8% 9004.25 Daily Fibonacci 61.8%9004.259004.25 Daily Pivot Point S1 8035.43 Daily Pivot Point S18035.438035.43 Daily Pivot Point S2 7343.42 Daily Pivot Point S27343.427343.42 Daily Pivot Point S3 6581.26 Daily Pivot Point S36581.266581.26 Daily Pivot Point R1 9489.59 Daily Pivot Point R19489.599489.59 Daily Pivot Point R2 10251.75 Daily Pivot Point R210251.7510251.75 Daily Pivot Point R3 10943.75 Daily Pivot Point R310943.7510943.75

     


     


    From: FXSTREET