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Bitcoin Technical Analysis: BTC/USD big bulls are back, but can they break $4000 again?

Bitcoin price on Monday was seen holding gains of over 4% in the second half of the session.
A wave of buying pressure has come into play, thanks to a breakout from a narrowing daily range formation.

Ken Chigbo Independent Analyst

Spot rate: 3801.34

Relative change: +4.25%

High: 3829.27

Low: 3617.55

Trend: Bullish

Support 1: 3566.51, daily pivot point support.

Support 2: 3507.64, daily pivot point support.

Support 3: 3458.57, daily pivot point support.

Resistance 1: 3674.46, daily pivot point resistance.

Resistance 2: 3723.53, daily pivot point resistance.

Resistance 3: 3782.4, daily pivot point resistance.

BTC/USD 60-minute chart

Bearish doji candlestick seen via the 60-minute, suggesting of a possible pullback.

BTC/USD daily chart

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.

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