BTC/USD Technical Analysis: Price consolidating before potential break out
|BTC/USD daily chart
- BTC/USD is currently trading for $3,853 as bulls will try to break past $3,900 level.
- Moving average convergence/divergence (MACD) shows that bearish momentum is reversing.
BTC/USD 4-hour chart
- The Ichinoku indicator in the 4-hour chart shows that BTC/USD is trying to consolidate prior to a breakout.
- The red cloud acts like a resistance level which bulls will need to break past.
BTC/USD hourly chart
- The 20-day Bollinger band in the hourly BTC/USD chart also shows that the price is consolidating as volatility remains consistent.
- The last session was bearish and the price is trending below the 20-day simple moving average (SMA 20) curve.
Key Levels
- Resistance 3: $3,975.89
- Resistance 2: $3,934.52
- Resistance 1: $3,893.05
- Pivot Point: $3,851.68
- Support 1: $3,810.21
- Support 2: $3,768.84
- Support 3: $3,727.37
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