Bitcoin Technical Analysis: BTC/USD supported for a big $4000 retest
- Bitcoin price on Wednesday is trading in minor positive territory up some 0.50%.
- BTC/USD is being supported to the upside by an ascending daily trend line. However, price remains within consolidation mode, following the weekend selling.
Spot rate: 3815.81
Relative change: +0.56%
High: 3822.74
Low: 3779.71
Trend: Neutral
Trends:
Daily SMA20: 3690.45
Daily SMA50: 3624.8
Daily SMA100: 3810.07
Daily SMA200: 5153.46
Levels:
Previous Daily High: 3827.21
Previous Daily Low: 3766.84
Previous Weekly High: 3984.92
Previous Weekly Low: 3556.71
Previous Monthly High: 4110.71
Previous Monthly Low: 3341.58
Daily Fibonacci 38.2%: 3789.9
Daily Fibonacci 61.8%: 3804.15
Daily Pivot Point S1: 3767.07
Daily Pivot Point S2: 3736.77
Daily Pivot Point S3: 3706.7
Daily Pivot Point R1: 3827.45
Daily Pivot Point R2: 3857.52
Daily Pivot Point R3: 3887.82
BTC/USD 60-minute chart
- BTC/USD near-term price action is moving within a potential bearish flag formation via the 60-minute.
BTC/USD daily chart
- Price action is being guided to the upside by an ascending trend line, that has been in play since 8th February.
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.
