- BTC/USD struggles between key HMAs on the road to recovery.
- RSI points higher, now eyeing to reclaim the bullish region.
- Acceptance above $33K is needed to extending the bounce.
Bitcoin (BTC/USD) is making minor recovery attempts on the $31K level, having dipped to fresh daily lows sub-$30K threshold.
The no. 1 coin remains pressured so far this Tuesday, consolidating the corrective slide from record highs of $34,799 reached Sunday. The bears have failed to find acceptance under the $30K mark, keeping the upside bias intact in the most favorite digital asset.
BTC/USD: Hourly chart
As observed in the hourly chart, the Bitcoin buyers are trying hard to recapture the critical barrier around $31,480, which is the confluence of the horizontal 21 and 100-hourly moving average (HMA).
Acceptance above the latter could put the $32K hurdle at risk once again. A sustained break above that level could expose the 50-HMA at $32,368.
The bulls need to clear the above resistance in order to regain the $33K mark. The recent bullish momentum is likely to resume only on a breakthrough the latter, opening doors for a retest of the record highs.
The hourly Relative Strength Index (RSI) is inching higher, looking to enter into the bullish territory above 50.00.
Alternatively, the $30K cushion could once again come to the bulls’ rescue, failure to resist it could threaten the upward-sloping 200-HMA support at $29,649.
Bitcoin: Additional levels
|Today last price||31212.33|
|Today Daily Change||-814.94|
|Today Daily Change %||-2.54|
|Today daily open||32027.27|
|Previous Daily High||33663.34|
|Previous Daily Low||27772|
|Previous Weekly High||29683.91|
|Previous Weekly Low||25771.59|
|Previous Monthly High||29307.4|
|Previous Monthly Low||17578.63|
|Daily Fibonacci 38.2%||30022.49|
|Daily Fibonacci 61.8%||31412.85|
|Daily Pivot Point S1||28645.07|
|Daily Pivot Point S2||25262.86|
|Daily Pivot Point S3||22753.73|
|Daily Pivot Point R1||34536.41|
|Daily Pivot Point R2||37045.54|
|Daily Pivot Point R3||40427.75|