Bitcoin Technical Analysis: BTC/USD one small barrier ahead of greater upside


  • 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. 

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