Bitcoin Technical Analysis: BTC/USD needs to break above $3700-800 for greater upside potential

• Bitcoin price on Friday is trading in minor negative territory, down just some 1.2%.
• BTC/USD range trading for the past 7 sessions has been observed.  

BTC/USD 15-minute chart

• Price action has slipped out from this rising channel/wedge formation.  

Spot rate:                   3605.16

Relative change:       -1.29%

High:                          3643.11

Low:                           3586.24

Trend:                         Bearish  

Support 1:                  3570.73, daily pivot point support.

Support 2:                  3500.12, daily pivot point support.

Support 3:                  3456.78, daily pivot point support.

Resistance 1:             3684.69, daily pivot point resistance.

Resistance  2:             3728.03, daily pivot point resistance.

Resistance  3:             3798.64, daily pivot point resistance.

BTC/USD 60-minute chart

• Range-trading observed for BTC/USD via the 60-minute view, a breakout is required for next committed trend.  

BTC/USD 4-hour chart

• Remains stuck within a range of $3500-3800 for the past 7 sessions.