Bitcoin price analysis for today
Today, Bitcoin (BTC) opened at $85,079. It's down by -0.67% from the opening price. Despite rallying to the $85,308 level, Bitcoin (BTC) faced resistance and was unable to maintain the momentum to move higher. From the maximum price of the last 30, and 7 days it's value is down by -4.66% and -2.21%, and from the minimum recorded price in the same timeframe it's up by 13.26% and 2.00%.
According to our analysis, it is crucial for BTC to maintain a level above $81,374 to potentially progress towards the initial major resistance level at $85,188. An upside break above the $85,188 level, BTC might gain traction and rise toward the next resistance level at $87,341. The third resistance level is located even higher at $90,907. These levels signal potential points where it might hit resistance or increase of value.
If the price drops, the first support level to watch is $81,374. If this level does not hold, a further decline to the next support level at $78,446 is possible.
The EMAs on the daily chart show a bearish signal. Bitcoin sits above the 10, 20 EMAs, but it's below long-term 50, 100 and 200 day exponential moving averages.
