Bitcoin Technical Analysis: BTC/USD bulls are edging closer to a large potential breakthrough

Bitcoin price on Tuesday is trading in positive territory up some 1.80% in the second half of the day.
BTC/USD bulls are attempting to break above the near-term resistance and supply of $5300-50, the top area of the past few sessions.
Bulls will then be eying the $5500 area, before a return up to $6000.

Ken Chigbo Independent Analyst

Spot rate: 5267.62

Relative change: +1.90%

High: 5288.11

Low: 5164.25

BTC/USD

Overview
Today last price	5260.98
Today Daily Change	69.12
Today Daily Change %	1.33
Today daily open	5191.86

Trends
Daily SMA20	4436.6
Daily SMA50	4100.32
Daily SMA100	3855.84
Daily SMA200	4640.93

Levels
Previous Daily High	5287
Previous Daily Low	5145.35
Previous Weekly High	5347.55
Previous Weekly Low	4052.2
Previous Monthly High	4130.71
Previous Monthly Low	3672.34
Daily Fibonacci 38.2%	5199.46
Daily Fibonacci 61.8%	5232.89
Daily Pivot Point S1	5129.14
Daily Pivot Point S2	5066.42
Daily Pivot Point S3	4987.48
Daily Pivot Point R1	5270.79
Daily Pivot Point R2	5349.72
Daily Pivot Point R3	5412.44

BTC/USD 60-minute chart

Price action is moving within a narrowing range formation, subject to an imminent breakout.

BTC/USD daily chart

Bulls are in the process of breaking down the top area over the past few days seen around $5200-5350 range.

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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BTC/USD

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