BTCUSD pushes through key resistance level


Bitcoin/USD Index (BTCUSD) Technical Analysis Report for Apr 15, 2018 [< 1 min read]
Highlights
BTCUSD pushes through key resistance level
BTCUSD dominated by bulls lifting the market higher throughout the day
BTCUSD closes higher for the 6th day in a row
BTCUSD pushes through previous session high
BTCUSD rises to highest close since March 25th
TQ Sentiment
Report Sentiment: 60% Bullish
Technical Forecast:
Overview

Moving higher for the 6th day in a row, BTCUSD finished Sunday at 8350.34 gaining $360.19 (4.51%). Today's closing price of 8350.34 marks the highest close since March 25th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Saturday's high at 8195.34, Bitcoin confirms its breakout through the prior session's high having traded $241.69 above it intraday.

Daily chart for BTCUSD
Volatility

Sunday's trading range was $415.99 (5.19%), that's slightly below last trading month's daily average range of $553.34. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Breaking through the key resistance level at 8237.16 today, it is now likely to act as support going forward.

Trend

Although BTC is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Conclusion

Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only slightly bullish while our quantitative statistics show a very bullish sentiment.

Market Conditions for Bitcoin/USD Index
ConditionForecastDirectionWinAvgWorstBestEvents
High close to previous High TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
7 Consecutive Higher Closes TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Bitcoin/USD Index traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Crypto Currencies Top Movers

NATGAS 2.7350.037 1.37%
BTCUSD 7,472.6486.80 1.18%
TBOND 145.4060.594 0.41%
ASX 6,262.7017.60 0.28%
DXY 94.9450.135 0.14%
NKY 22,764.68-29.51 -0.13%
USDJPY 112.47-0.37 -0.33%
HSI 28,010.86-106.56 -0.38%
GOLD 1,222.5-4.8 -0.39%
SPX 2,804.49-11.13 -0.40%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Crypto Currencies

ETHUSD 10 day candlestick chart for ETHUSD468.92 -10.38
-2.17%
BTCEUR 10 day candlestick chart for BTCEUR6,414.64 76.85
1.21%
BTCJPY 10 day candlestick chart for BTCJPY871,041.42 12,330.15
1.44%
BTCCNY 10 day candlestick chart for BTCCNY49,650.00 500.00
1.02%
ETHEUR 10 day candlestick chart for ETHEUR402.90 -8.81
-2.14%
ETHJPY 10 day candlestick chart for ETHJPY52,483.20 -1,366.05
-2.54%
ETHCNY 10 day candlestick chart for ETHCNY3,114.54 -78.74
-2.47%
BTCGBP 10 day candlestick chart for BTCGBP5,704.20 76.91
1.37%
ETHGBP 10 day candlestick chart for ETHGBP357.82 -7.79
-2.13%
BTCUSD 10 day candlestick chart for BTCUSD7,472.64 86.80
1.18%