Bitcoin Technical Analysis: BTC/USD bulls really have their work cut out
|- Bitcoin trading with very modest gains of just over 1% in the session on Wednesday.
- BTC/USD price action moving within a narrow range at the moment, subject to a near-term breakout.
BTC/USD 15-minute chart
- BTC/USD 15-minute price action moving within a narrow range formation, between $3800-900 area.
Spot rate: 0.3345
Relative change: +1.01%
High: 3965.82
Low: 3866.12
Trend: Neutral
Trends:
Daily SMA20: 3551.87
Daily SMA50: 3615.41
Daily SMA100: 3956.94
Daily SMA200: 5258.35
Levels:
Previous Daily High: 3970.9
Previous Daily Low: 3843.38
Previous Weekly High: 3655.36
Previous Weekly Low: 3536.68
Previous Monthly High: 4110.71
Previous Monthly Low: 3341.58
Daily Fibonacci 38.2%: 3922.19
Daily Fibonacci 61.8%: 3892.09
Daily Pivot Point S1: 3831.71
Daily Pivot Point S2: 3773.78
Daily Pivot Point S3: 3704.18
Daily Pivot Point R1: 3959.23
Daily Pivot Point R2: 4028.83
Daily Pivot Point R3: 4086.76
BTC/USD 60-minute chart
- Price action is moving within a near-term ascending channel pattern formation.
BTC/USD daily chart
- A chunky amount of supply is observed from $4000 up to the $4500 price range.
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