Bitcoin Technical Analysis: BTC/USD price action is moving within another range-block of death

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  • Bitcoin price is trading marginally in positive territory on Friday, up just some 0.10%.
  • BTC/USD price action is moving within consolidation mode, subject to another breakout to the downside.  

BTC/USD 15-minute chart

  • Price action is moving within consolidation mode, subject to further potential downside pressure. 

 

Spot rate:                  3630.1

Relative change:      +0.15%

High:                         3670.9

Low:                          3589.2

 

Trend:                        Bearish 

 

Support 1:                  3446.3, daily pivot point support.

Support 2:                  3266.7, daily pivot point support.

Support 3:                  2972.8, daily pivot point support.

Resistance 1:             3919.9, daily pivot point resistance.

Resistance 2:             4213.8, daily pivot point resistance.

Resistance 3:             4393.4, daily pivot point resistance.

 

BTC/USD 60-minute chart

  • The mentioned range for BTC/USD; high observed at $3660, the low at $3550. 

BTC/USD daily chart

  • Downside pressure caught be daily support level at $3570, after a breach of ascending trend line. 

 

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