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.

Ken Chigbo Independent Analyst

Spot rate: 4002.11

Relative change: -0.13%

High: 4017.20

Low: 3963.92

BTC/USD

Overview
Today last price	4003.69
Today Daily Change	3.85
Today Daily Change %	0.10
Today daily open	3999.84

Trends
Daily SMA20	3867.6
Daily SMA50	3715.86
Daily SMA100	3687.89
Daily SMA200	4882.13

Levels
Previous Daily High	4010.4
Previous Daily Low	3950.37
Previous Weekly High	3917.33
Previous Weekly Low	3783.86
Previous Monthly High	4187.25
Previous Monthly Low	3338.98
Daily Fibonacci 38.2%	3987.46
Daily Fibonacci 61.8%	3973.3
Daily Pivot Point S1	3963.34
Daily Pivot Point S2	3926.84
Daily Pivot Point S3	3903.31
Daily Pivot Point R1	4023.37
Daily Pivot Point R2	4046.9
Daily Pivot Point R3	4083.4

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

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.

Crypto's future lies in tokenized real-world assets, not speculation

Atlas Capital CEO Reza Bandi stated that the crypto industry's next major growth phase will be driven by the tokenization of real-world assets rather than speculative trading. In an interview with FXStreet, Bandi identified three factors supporting the expansion of tokenization.

Top 3 Price Prediction: BTC remains vulnerable, ETH weakens further, XRP signals more downside

Bitcoin, Ethereum, and Ripple remain under pressure mid-week, as the broader cryptocurrency market struggles to regain recovery momentum. BTC struggles below $62,000, ETH continues to weaken below $1,650, while XRP’s momentum indicators remain biased toward further downside.

Crypto Overview: Bitcoin is back under $62,000 – Hyperliquid, DeXe lead losses

The broader cryptocurrency market is under pressure with Bitcoin slipping below $62,000 amid the US launching its third wave of strikes on Iran. Hyperliquid and DeXe are leading losses over the last 24 hours, risking the prevailing upward trend.

Bitcoin sell-off pushes over 50% of circulating supply into loss, hinting at market bottom

Bitcoin (BTC) dropped near $61,000 on Tuesday, with the latest sell-off pushing long-term market indicators toward levels historically associated with bear-market bottoms, according to a report by K33 Research.

Bitcoin: After the bloodbath, everyone looks at $60,000

Bitcoin (BTC) hovers above $62,000 at the time of writing on Friday, weighed down by growing risk-off sentiment due to persistent geopolitical tensions in the Middle East and sticky macroeconomic uncertainty. The institutional sell-off continued to wreak havoc on capital flows, with spot Bitcoin Exchange-Traded Funds (ETFs) recording billions in outflows.

BTC/USD

Legal Text

Editor's Picks