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Bitcoin Technical Analysis: BTC/USD critical support saves the day again

Bitcoin price late on Tuesday was trading up with very minor gains of some 0.30%.
BTC/USD required support once again from a vital ascending trend line of support.
Interest for the bulls will be for another attempt at breaking down the supply heading into the $4000 price territory.

Ken Chigbo Independent Analyst

Spot rate: 3865.40

Relative change: +0.33%

High: 3875.89

Low: 3796.56

Trends:
    Daily SMA20: 3849.53
    Daily SMA50: 3656.32
    Daily SMA100: 3693.77
    Daily SMA200: 4986.36
Levels:
    Previous Daily High: 3911.86
    Previous Daily Low: 3816.51
    Previous Weekly High: 3910.39
    Previous Weekly Low: 3672.34
    Previous Monthly High: 4187.25
    Previous Monthly Low: 3338.98
    Daily Fibonacci 38.2%: 3852.93
    Daily Fibonacci 61.8%: 3875.43
    Daily Pivot Point S1: 3806.95
    Daily Pivot Point S2: 3764.06
    Daily Pivot Point S3: 3711.61
    Daily Pivot Point R1: 3902.3
    Daily Pivot Point R2: 3954.75
    Daily Pivot Point R3: 3997.64

BTC/USD 60-minute chart

Price looking to extend north out from a bullish flag formation via the 60-minute chart view.

BTC/USD daily chart

Bulls are attempting to breakdown chunky near-term supply heading into the $60 price territory.

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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