Bitcoin BTC Technical Analysis: BTC/USD can not comfortably break down $4000

  • Bitcoin on Thursday was seen nursing very minor losses of some 1.5% in the latter part of the session. 
  • BTC/USD bulls are struggling to breakdown the supply heading into the $4000 price territory. 


Spot rate:                3889.81

Relative change:    -1.53%

High:                       3984.82

Low:                        3869.07


Trend:                      Bearish 



BTC/USD 60-minute chart

  • Price action moving within a descending channel formation contained within. 

BTC/USD daily chart

  • Much supply is seen heading into and around the $4000 price territory, proving much of a barrier. 


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