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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. 
Bitcoin Technical Analysis: BTC/USD staging big rebound for retest of potential death
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 3909.93

Relative change:      +0.15%

High:                        3925.14

Low:                         3881.34

Trend:                       Neutral 

BTC/USD

Overview
Today last price3909.84
Today Daily Change1.54
Today Daily Change %0.04
Today daily open3908.3
 
Trends
Daily SMA203923.03
Daily SMA503781.31
Daily SMA1003721.02
Daily SMA2004790.36
 
Levels
Previous Daily High3976.98
Previous Daily Low3858.32
Previous Weekly High4058
Previous Weekly Low3918.58
Previous Monthly High4187.25
Previous Monthly Low3338.98
Daily Fibonacci 38.2%3903.65
Daily Fibonacci 61.8%3931.66
Daily Pivot Point S13852.09
Daily Pivot Point S23795.87
Daily Pivot Point S33733.43
Daily Pivot Point R13970.74
Daily Pivot Point R24033.19
Daily Pivot Point R34089.4

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

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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