Bitcoin Technical Analysis: BTC/USD staging big rebound for retest of potential death

Bitcoin price in the second half of the session on Tuesday, trading in very minor positive, up some 0.15%.
BTC/USD looking to stage a rebound for a retest of a key breached ascending trend line. If a rejection is seen here, then there could be big trouble.
Bulls are looking to end current losing streak, with Bitcoin running at its third consecutive session in the red.

Ken Chigbo Independent Analyst

Spot rate: 3909.93

Relative change: +0.15%

High: 3925.14

Low: 3881.34

Trend: Neutral

BTC/USD

Overview
Today last price	3909.84
Today Daily Change	1.54
Today Daily Change %	0.04
Today daily open	3908.3

Trends
Daily SMA20	3923.03
Daily SMA50	3781.31
Daily SMA100	3721.02
Daily SMA200	4790.36

Levels
Previous Daily High	3976.98
Previous Daily Low	3858.32
Previous Weekly High	4058
Previous Weekly Low	3918.58
Previous Monthly High	4187.25
Previous Monthly Low	3338.98
Daily Fibonacci 38.2%	3903.65
Daily Fibonacci 61.8%	3931.66
Daily Pivot Point S1	3852.09
Daily Pivot Point S2	3795.87
Daily Pivot Point S3	3733.43
Daily Pivot Point R1	3970.74
Daily Pivot Point R2	4033.19
Daily Pivot Point R3	4089.4

BTC/USD 60-minute chart

A big area of demand coming into play via the 60-minute, producing somewhat of a double bottom.

BTC/USD daily chart

Price has bounced within the $3800 price region, subject to a potential retest of breached ascending trend line.

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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BTC/USD

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