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Bitcoin Technical Analysis: BTC/USD a break above $4000 is the key to the heavens

  • Bitcoin price on Friday is holding very modest gains of some 0.6% in the second half of the session. 
  • BTC/USD continues to flirt with the big $4000 price area, where much resistance near-term is eyed.

Spot rate:                3930.40

Relative change:    +0.60%

High:                       3954.53

Low:                        3884.74

Trend:                      Neutral

Trends:
    Daily SMA20: 3578.24
    Daily SMA50: 3620.35
    Daily SMA100: 3932.26
    Daily SMA200: 5239.41
Levels:
    Previous Daily High: 3965.83
    Previous Daily Low: 3866.13
    Previous Weekly High: 3655.36
    Previous Weekly Low: 3536.68
    Previous Monthly High: 4110.71
    Previous Monthly Low: 3341.58
    Daily Fibonacci 38.2%: 3927.74
    Daily Fibonacci 61.8%: 3904.21
    Daily Pivot Point S1: 3881.46
    Daily Pivot Point S2: 3823.94
    Daily Pivot Point S3: 3781.76
    Daily Pivot Point R1: 3981.16
    Daily Pivot Point R2: 4023.35
    Daily Pivot Point R3: 4080.87

BTC/USD 60-minute chart

  • The price has found itself range-trading once again, within $3850-3975 area. 

BTC/USD daily chart

  • Remains somewhat elevated but unable to firmly breakthrough the $4000 price mark. 

Author

Ken Chigbo

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.

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