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. 


Spot rate:                 4002.11

Relative change:      -0.13%

High:                        4017.20

Low:                         3963.92


Today last price 4003.69
Today Daily Change 3.85
Today Daily Change % 0.10
Today daily open 3999.84
Daily SMA20 3867.6
Daily SMA50 3715.86
Daily SMA100 3687.89
Daily SMA200 4882.13
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. 



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