Bitcoin Technical Analysis: BTC/USD big breakout overdue
|- Bitcoin price on Monday was seen flirting with the $4000 mark, as lack of commitment continues to plague the market.
- BTC/USD price action is narrowing again, which suggests another big breakout could be right round the corner.
- A triangular pattern formation has been observed via the 4-hour chart view.
BTC/USD 4-hourchart
Spot rate: 3952.76
Relative change: -3.66%
High: 4020.68
Low: 3912.80
Trend: Bearish
Support 1: 3901.37, daily pivot point support.
Support 2: 3770.41, daily pivot point support.
Support 3: 3563.81, lower part of triangular pattern.
Resistance 1: 4140.27, upper part of triangular pattern.
Resistance 2: 4230.72, daily pivot point resistance.
Resistance 3: 4361.68, daily pivot point resistance.
BTC/USD 60-minute chart
- Price action demonstrates via the 60-minute chart view of an imminent breakout for BTC/USD.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.