Bitcoin Price Analysis: BTC/USD is in serious trouble if it breaks $3500 again

  • BTC/USD trading with minor gains late on Friday, after being hammered on Thursday.
  • Market is stuck within consolidation mode, ahead of next confirmed committed trend.


Bitcoin price in the latter part of trading on Friday was trading in minor positive territory, by some 0.50%. The market is somewhat stuck within consolidation mode, this coming after a highly volatile session on Thursday.

BTC/USD price action is moving within a range-block formation, via the 4-hour chart view. The price is hovering around the lower part of this mentioned structure, bottom is seen around $3600-3500. A breach here could open up another large wave of selling.

Should the above support be broken, a fast fall to the big psychological $3000 price area would likely be seen. BTC/USD was last seen trading at these depressed levels in mid-December. The danger of the bear market still looms. 


BTC/USD 4-hour chart


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.