• Bitcoin price is nursing minor losses on Tuesday of just some 0.5%, as it stabilizes after the heavy selling on the weekend. 
  • BTC/USD price action via the 60-minute view is consolidating, potential formation of a bearish flag pattern observed. 

 

BTC/USD 15-minute chart

  • BTC/USD 15-minute view, price has been caught by a near-term area of demand, tracking around $3775 area.

 

Spot rate:               0.3211

Relative change:    -3.01%

High:                       3827.21

Low:                        3766.83

 

Trend:                      Bearish/Neutral

 

Trends:
    Daily SMA20: 3672.06
    Daily SMA50: 3626.06
    Daily SMA100: 3834.7
    Daily SMA200: 5169.62
Levels:
    Previous Daily High: 3859.68
    Previous Daily Low: 3732.06
    Previous Weekly High: 3984.92
    Previous Weekly Low: 3556.71
    Previous Monthly High: 4110.71
    Previous Monthly Low: 3341.58
    Daily Fibonacci 38.2%: 3810.93
    Daily Fibonacci 61.8%: 3780.81
    Daily Pivot Point S1: 3747.95
    Daily Pivot Point S2: 3676.2
    Daily Pivot Point S3: 3620.33
    Daily Pivot Point R1: 3875.57
    Daily Pivot Point R2: 3931.44
    Daily Pivot Point R3: 4003.19

 

BTC/USD 60-minute chart

  • Price action is narrowing and within consolidation mode, since the heavy selling on Sunday. The price has formed somewhat of a bearish flag pattern. 

 

BTC/USD daily chart

  • Heavy supply observed from $4000-4200 price range. Daily ascending trend line providing needed comfort for price


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