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.
Spot rate: 3909.93
Relative change: +0.15%
High: 3925.14
Low: 3881.34
Trend: Neutral
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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