Ken Chigbo
Independent Analyst
- Bitcoin price on Monday was seen holding decent gains of over 6% into the second half.
- BTC/USD near-term price action is moving within a range-block, must break above $4400-600 area for a new wave of buying pressure.
BTC/USD 15-minute chart
- Price action moving within a range-block formation, subject to an explosive move to the upside.
Spot rate: 4195.69
Relative change: +6.40%
High: 4234.51
Low: 3943.62
Trend: Bullish
Resistance 1: 4408.00, 29th November high.
Resistance 2: 4628.50, upper part of supply zone.
Resistance 3: 4888.84, 20th November high.
Support 1: 3884.48, daily pivot point support.
Support 2: 3825.32, daily pivot point support.
Support 3: 3741.24, daily pivot point support.
BTC/USD 4-hour chart
- Should bulls move above near-term barrier tracking around $4200-600, a wave of buyers could likely be seen.
BTC/USD daily chart
- Eyes on a return to the $6000 territory, once the above-mentioned supply area is conquered.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Charles Hoskinson and XRP community in loggerheads again, debate on Ethereum’s free pass resurfaces
Charles Hoskinson, the founder of Cardano, engaged in a debate with the XRP community over the rumors of ConsenSys founder, Joseph Lubin, bribing the US financial regulator.
Bitcoin Weekly Forecast: Analyzing potential $30k corrections ahead of BTC ETF approval
Bitcoin (BTC) price has slowed down its 2023 bull rally as it approaches the $37,000 level. After three weeks of consolidating around this level, BTC shows no directional bias whatsoever.
Solana likely to extend gains as DeFi airdrop season could boost user base
Solana ecosystem is set to experience a surge in activity from decentralized finance (DeFi) projects that offer users airdrops in the following months, according to a report from crypto market intelligence company Messari.
LUNC ranks among trending tokens alongside Dollar pegged stablecoin USTC, eyes recovery
Terra Classic USD and Terra Luna Classic tokens are trending among market participants after overnight price gains. USTC rallied to $0.078 local top after its 2022 collapse, garnering hope among traders.
Analyzing potential $30k corrections ahead of BTC ETF approval
Bitcoin has slowed down its 2023 bull rally as it approaches the $37,000 level. After three weeks of consolidating around this level, BTC shows no directional bias whatsoever. Some investors speculate this could be an upward-sloping accumulation that leads to a $40,000 rally.