Bitcoin price retreats from $5,475 (intraday high) amid bearish calls to test $5,000 level. A rising triangle pattern suggests than a breakout to $5,000 is imminent but could be what BTC/USD needs to climb above $6,000. Spot rate: $5,314 Relative change: -98 Percentage change: -1.66% Trend: Bearish Volatility: Expanding BTC/USD daily chart Bitcoin price is extending stability for the third day in a row. Movements north continue to hit a wall at $5,500. On the downside $5,300 if providing immediate support. Despite the stability and consolidation, a rising triangle hints that a breakdown is looming and is likely to force BTC/USD towards $5,000. The retreat to levels between $4,800 and $5,000 is likely to create more demand for BTC thereby improving BTC/USD technical and fundamental levels; which are the foundation of a sustainable rally above $6,000. BTC/USD 1-hour chart The RSI shows that the buyers have an upper hand. Although movement north is gradual, the RSI has stayed above 50 (the average) in the last 48 hours. Moreover, BTC/USD is trading above the moving averages whereby both the 50 SMA and the 100 SMA currently provide support. Bitcoin price is safe as long as it stays above $5,300 support but if this support is broken, it would be a miracle to stop the losses at $5,000. Bitcoin price key levels Resistance one: $5,398 – Previous high 1-hour, Fibonacci 23.6% daily and Bollinger Band 15-mins middle curve. Resistance two: $5,730 – Pivot point one-month support three and pivot point one-day resistance two. Support one: $5,287 – Previous low 1-hour chart, BB 15-mins lower curve and SMA 100 15-mins. Support two: $5,121 – Fibonacci 23.6% one-week. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Australian PM Morrison: Travel ban will be placed on non-residents, non-Australian citizens FX Street 2 years Bitcoin price retreats from $5,475 (intraday high) amid bearish calls to test $5,000 level. A rising triangle pattern suggests than a breakout to $5,000 is imminent but could be what BTC/USD needs to climb above $6,000. Spot rate: $5,314 Relative change: -98 Percentage change: -1.66% Trend: Bearish Volatility: Expanding BTC/USD daily chart Bitcoin price is extending stability for the third day in a row. Movements north continue to hit a wall at $5,500. On the downside $5,300 if providing immediate support. Despite the stability and consolidation, a rising triangle hints that a breakdown is looming and is likely to force… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
