Bitcoin (BTC/USD) on its way to reach the 200-hr SMA

Bitcoin (BTC/USD) on its way to reach the 200-hr SMA

It seems that Bitcoin has entered a corrective stage after having encountered resistance at the level of 8275. This is allowing an approximation to the 200-hour moving average, which could provide dynamic support for the cryptocurrency, due to the proximity has with the Fibonacci level of 38.2% in 7578.

The current price action suggests that there could be additional pressure in the coming days, although for the time being, we note that the Parabolic SAR is providing temporary support to the BTC/USD pair. The RSI indicator is also showing signs that we could have found a temporary bottom in the short term.

What do we expect?

According to our forecasts in the H1 chart, Bitcoin aims to extend the corrective movement and the spotlights are set at the 200-hour moving average. If we get to see a rebound in that area, the rally could point towards the Fibonacci level of -23.6% at 8706, followed by the 8907 level. However, if we see a break of the Fibonacci level of 61.8% at 7148, the next obstacle to face would be in the lows of April 9.




Latest news

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera