Bitcoin Technical Analysis: BTC/USD bulls given consolation run
|- Bitcoin price on Wednesday trading in the green with modest gains of just 2% into the second half of the day.
- BTC/USD giving a consolation run, as sellers temporarily run exhausted.
- Current momentum observed from the bull camp does not look convincing at this time.
BTC/USD 15-minute chart
Spot rate: 3419.01
Relative change: +2.12%
High: 3452.95
Low: 3326.27
Trend: Bearish
Support 1: 3370.00, lower part of wedge (15-minute).
Support 2: 3224.58, daily pivot point support.
Support 3: 3154.94, daily pivot point support.
Resistance 1: 3419.62, 15-minute resistance, near-term top.
Resistance 2: 3489.26, daily pivot point resistance.
Resistance 3: 3551.95, daily pivot point resistance.
BTC/USD 4-hour chart
- Big near-term demand area propping up the price around the $3200-300 region.
BTC/USD daily chart
- Price moving within a stubborn range, suck within a high of $3600 down to a low of $3200.
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