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  • Bitcoin price on Monday was seen flirting with the $4000 mark, as lack of  commitment  continues to plague the market.  
  • BTC/USD price action is narrowing again, which suggests another big breakout could be right round the corner.  
  • A triangular pattern formation has been observed via the 4-hour chart view.

 

BTC/USD 4-hourchart


 

 

Spot rate:                   3952.76

Relative change:       -3.66%

High:                          4020.68

Low:                           3912.80

 

Trend:                         Bearish

 

Support 1:                   3901.37, daily pivot point support.

Support 2:                   3770.41, daily pivot point support.

Support 3:                   3563.81, lower part of triangular pattern.

Resistance 1:              4140.27, upper part of triangular pattern.

Resistance  2:              4230.72, daily pivot point resistance.

Resistance  3:              4361.68, daily pivot point resistance.

 

BTC/USD 60-minute chart

  • Price action demonstrates via the 60-minute chart view of an imminent breakout for BTC/USD.