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Bitcoin Technical Analysis: Bulls look ready to stampede aggressively further north

  • Bitcoin price in the second half of the session on Tuesday was seen holding modest gains of 1%. 
  • BTC/USD bullish pennant pattern formation can be eyed via the 60-minute chart view, subject to a breakout. 

BTC/USD 15-minute chart

  • Price is gunning towards a retest of the session high area, a break would likely open the door to another buying pressure wave. 

Spot rate:               3924.27

Relative change:    +1.02%

High:                       3954.85

Low:                        3867.93

 

Trend:                      Bullish

 

Trends:
    Daily SMA20: 3529.23
    Daily SMA50: 3614.23
    Daily SMA100: 3983.06
    Daily SMA200: 5279.73
 

Levels:
    Previous Daily High: 3912.74
    Previous Daily Low: 3617.55
    Previous Weekly High: 3655.36
    Previous Weekly Low: 3536.68
    Previous Monthly High: 4110.71
    Previous Monthly Low: 3341.58
    Daily Fibonacci 38.2%: 3799.98
    Daily Fibonacci 61.8%: 3730.31
    Daily Pivot Point S1: 3686.64
    Daily Pivot Point S2: 3504.51
    Daily Pivot Point S3: 3391.46
    Daily Pivot Point R1: 3981.83
    Daily Pivot Point R2: 4094.88
    Daily Pivot Point R3: 4277.02

 

BTC/USD 60-minute chart

  • Bullish pennant pattern eyed, subject to an extended move to the north. 

BTC/USD daily chart

  • Bulls are gradually guiding the price into a chunky area of supply, tracking from $4000-4500. 

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