Bitcoin Technical Analysis: BTC/USD may be able to see a fresh wave of strong buying pressure soon, must break $4000-4100 range
|- Bitcoin's price is trading up in minor positive territory in the second half of the session on Friday.
- BTC/USD price still hugging very closely to the critical daily ascending trend line.
Spot rate: 3900.72
Relative change: +1.05%
High: 3906.40
Low: 3845.98
Trends:
Daily SMA20: 3839.28
Daily SMA50: 3674.77
Daily SMA100: 3687.01
Daily SMA200: 4948.08
Levels:
Previous Daily High: 3901.32
Previous Daily Low: 3783.86
Previous Weekly High: 3910.39
Previous Weekly Low: 3672.34
Previous Monthly High: 4187.25
Previous Monthly Low: 3338.98
Daily Fibonacci 38.2%: 3856.45
Daily Fibonacci 61.8%: 3828.73
Daily Pivot Point S1: 3791.75
Daily Pivot Point S2: 3729.07
Daily Pivot Point S3: 3674.29
Daily Pivot Point R1: 3909.21
Daily Pivot Point R2: 3963.99
Daily Pivot Point R3: 4026.67
BTC/USD 60-minute chart
- Price action was moving within a descending wedge pattern formation, however, a breakdown has been observed.
BTC/USD daily chart
- The bulls are very much reliant on the ascending trend line, which has been running since 7th February.
- Bulls need to breakdown near-term supply, tracking from $4000-100 range.
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