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. 

 

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. 

BEST BROKERS TO TRADE CRYPTO

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.