Bitcoin Technical Analysis: BTC/USD shaping up for another drop
- Bitcoin price into the second half of Friday's session trading with minor losses of around 0.90%.
- BTC/USD bears are shaping up for another drop to the downside, within current range-block.
BTC/USD 15-minute chart
Spot rate: 3234.13
Relative change: -0.90%
High: 3290.27
Low: 3192.75
Trend: Bearish
Support 1: 3180.01, daily pivot point support.
Support 2: 3096.85, daily pivot point support.
Support 3: 2967.53, daily pivot point support.
Resistance 1: 3392.5, daily pivot point resistance.
Resistance 2: 3521.82, daily pivot point resistance.
Resistance 3: 3604.98, daily pivot point resistance.
BTC/USD 60-minute chart
- Price action breached a triangular pattern in the session on Thursday, seeing additional pressure to the downside come into play.
BTC/USD daily chart
- Vital near-term support and bottom area, $3200, is being tested, a breach will invite $3000 to be tested to the downside.
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.
