BTC/USD Technical Analysis: Price consolidating before potential break out

BTC/USD daily chart

• BTC/USD is currently trading for $3,853 as bulls will try to break past $3,900 level.
• Moving average convergence/divergence (MACD) shows that bearish momentum is reversing.

BTC/USD 4-hour chart

• The Ichinoku indicator in the 4-hour chart shows that BTC/USD is trying to consolidate prior to a breakout.
• The red cloud acts like a resistance level which bulls will need to break past.

BTC/USD hourly chart

• The 20-day Bollinger band in the hourly BTC/USD chart also shows that the price is consolidating as volatility remains consistent.
• The last session was bearish and the price is trending below the 20-day simple moving average (SMA 20) curve.

Key Levels

• Resistance 3: $3,975.89
• Resistance 2: $3,934.52
• Resistance 1: $3,893.05
• Pivot Point: $3,851.68
• Support 1: $3,810.21
• Support 2: $3,768.84
• Support 3: $3,727.37