BTC/USD stays marginally above $3,900. Intraday RSI implies further recovery towards channel resistance. Bitcoin (BTC) stays above the channel support at $3,900 during early Asian hours; it seems that the market is not ready for a decisive bearish breakthrough as yet. Actually, it is not ready to any breakthrough, confined to a rangebound trading. Looking technically, BTC/USD recovered to $3,920 after a short-lived collapse below $3,900 handle late on Monday. The price touched $3,858 low before new buyers popped in and saved the day. However, we still need to return above $3,930 to improve the short-term technical picture. This resistance area is strengthened by SMA100 on 4-hour chart. Once it is cleared, the recovery may be extended towards $3,950 (SMA 1-hour) and $3,970 (SMA100 1-hour and SMA50 4-hour). On the downside, initial support comes at $3,900. It is followed by SMA200 (4-hour) at $3,890 and the recent low of $3,858. Revisiting the area under $3,900, the coin will spoil the short0term technical picture and set the stage for an extended decline towards the previous range channel support at $3,800. Considering slightly upward-looking RSI on intraday charts, there is a glimpse of hope for further recovery away from dangerous support levels. BTC/USD, 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/USD: Stuck at 4H 200MA ahead of German data, focus on US yield curve FX Street 4 years BTC/USD stays marginally above $3,900. Intraday RSI implies further recovery towards channel resistance. Bitcoin (BTC) stays above the channel support at $3,900 during early Asian hours; it seems that the market is not ready for a decisive bearish breakthrough as yet. Actually, it is not ready to any breakthrough, confined to a rangebound trading. Looking technically, BTC/USD recovered to $3,920 after a short-lived collapse below $3,900 handle late on Monday. The price touched $3,858 low before new buyers popped in and saved the day. However, we still need to return above $3,930 to improve the short-term technical… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.