Bitcoin Price Analysis: BTC/USD sellers approach $36,300 on Russia-Ukraine crisis
- BTC/USD stays pressured around short-term key support after three-week downtrend.
- Bear cross, downbeat oscillators keep sellers hopeful around 61.8% Fibonacci retracement level.
- Five-week-old ascending trend line support may test the bears nearby horizontal line.
- Russian nuclear arsenal on high alert even as Kyiv-Moscow agrees for peace talks.
BTC/USD seesaws around $36,700 during the late Sunday’s trading, after declining for three consecutive weeks in the last.
In doing so, the Bitcoin pair makes rounds to the 61.8% Fibonacci retracement (Fibo.) of the quote’s upside from late January to February 10.
However, 50-SMA’s downside break of the 200-SMA, known as a bear cross, joins the downbeat RSI line and bearish MACD signals to hint at the crypto major’s further downside.
That said, three-week-old horizontal support around $36,300 may restrict the BTC/USD pair’s immediate downside ahead of an upward sloping trend line from January 24, near $34,500 by the press time.
Following that, the late January low near $32,950 will be in focus.
Alternatively, recovery moves need to provide a decisive break above the 200-SMA level of $40,043 to push back the short-term sellers.
Even so, BTC/USD bulls will remain cautious until the pair stays below a descending trend line from February 10, close to $42,000 by the press time.
Read: Risk-off start to week: Russia's Putin puts nuclear deterrence forces on high alert
BTC/USD: Four-hour chart
Trend: Further weakness eyed
Additional important levels
|Today last price||37844.26|
|Today Daily Change||-1294.12|
|Today Daily Change %||-3.31%|
|Today daily open||39138.38|
|Previous Daily High||39819.92|
|Previous Daily Low||38596.74|
|Previous Weekly High||40141.76|
|Previous Weekly Low||34326.49|
|Previous Monthly High||47983.92|
|Previous Monthly Low||32962.74|
|Daily Fibonacci 38.2%||39063.99|
|Daily Fibonacci 61.8%||39352.67|
|Daily Pivot Point S1||38550.11|
|Daily Pivot Point S2||37961.83|
|Daily Pivot Point S3||37326.92|
|Daily Pivot Point R1||39773.29|
|Daily Pivot Point R2||40408.2|
|Daily Pivot Point R3||40996.48|
Back to the list