TRENDING:
Trade War
XAU/USD
Silver
EUR/USD
GBP/USD
USD/CAD
AUD/USD
Sponsored by
Login
|

Bitcoin Technical Analysis: BTC/USD bulls are gradually building blocks for a big breakout

  • Bitcoin price is trading in minor positive territory on Wednesday, up with gains of 0.15%.
  • BTC/USD daily ascending trend line continues to support the bulls in their recovery. 
  • Bulls are gradually chipping away the away of supply seen in the early part of the $4000 price territory. 
Bitcoin Technical Analysis: BTC/USD bulls are gradually building blocks for a big breakout
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 4002.11

Relative change:      -0.13%

High:                        4017.20

Low:                         3963.92

BTC/USD

Overview
Today last price4003.69
Today Daily Change3.85
Today Daily Change %0.10
Today daily open3999.84
 
Trends
Daily SMA203867.6
Daily SMA503715.86
Daily SMA1003687.89
Daily SMA2004882.13
 
Levels
Previous Daily High4010.4
Previous Daily Low3950.37
Previous Weekly High3917.33
Previous Weekly Low3783.86
Previous Monthly High4187.25
Previous Monthly Low3338.98
Daily Fibonacci 38.2%3987.46
Daily Fibonacci 61.8%3973.3
Daily Pivot Point S13963.34
Daily Pivot Point S23926.84
Daily Pivot Point S33903.31
Daily Pivot Point R14023.37
Daily Pivot Point R24046.9
Daily Pivot Point R34083.4

BTC/USD 60-minute chart

  • Price action is moving within a narrow range-block formation, subject to a potentially explosive breakout to the upside. 

BTC/USD daily chart

  • Long-running ascending trend line still playing a huge part in the bulls push for recovery. 
  • Supply zone running from $4000-4100 price range, capping upside momentum. 

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.

More from Ken Chigbo
Share:

Editor's Picks

XRP steadies in narrow range as fund inflows, futures interest rise

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43. 

Crypto Today: Bitcoin, Ethereum, XRP trade within range amid low retail interest 

Crypto Today: Bitcoin, Ethereum, XRP trade within range amid low retail interest 

Bitcoin, Ethereum and Ripple continue to exhibit subdued volatility, consolidating within narrow ranges at the time of writing on Monday. Persistent low retail participation and weak technical structures limit the chances of any extended upside price movements.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

Monero Price Forecast: XMR risks a drop below $300 under mounting bearish pressure

Monero Price Forecast: XMR risks a drop below $300 under mounting bearish pressure

Monero (XMR) starts the week under pressure, recording a 4% decline at press time on Monday after a 7% drop the previous day, putting the $300 support zone in focus.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: BTC bears aren’t done yet

Bitcoin: BTC bears aren’t done yet

Bitcoin (BTC) price slips below $67,000 at the time of writing on Friday, remaining under pressure and extending losses of nearly 5% so far this week.