Bitcoin BTC Technical Analysis: BTC/USD can not comfortably break down $4000
- Bitcoin on Thursday was seen nursing very minor losses of some 1.5% in the latter part of the session.
- BTC/USD bulls are struggling to breakdown the supply heading into the $4000 price territory.

Spot rate: 3889.81
Relative change: -1.53%
High: 3984.82
Low: 3869.07
Trend: Bearish
BTC/USD 60-minute chart
- Price action moving within a descending channel formation contained within.
BTC/USD daily chart
- Much supply is seen heading into and around the $4000 price territory, proving much of a barrier.
Author

Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.





