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  • Bitcoin price on Monday trading up with minor gains of 1.5% into the second half of the day.  
  • BTC/USD despite the gains in the session so far, does remain vulnerable to further downside pressure.  

BTC/USD 15-minute chart

  • Price action is narrowing within a bearish pennant pattern structure. Near-term support eyed at $3767, lower acting trend line. ]

Spot rate:                3789.89

Relative change:     +1.52%

High:                        3798.49

Low:                         3732.06


Trend:                       Bullish


       Daily SMA20:  3651.62
       Daily SMA50:  3626.08
       Daily SMA100:  3859.74
       Daily SMA200:  5185.58
       Previous Daily High:  4187.25
       Previous Daily Low:  3711.49
       Previous Weekly High:  3984.92
       Previous Weekly Low:  3556.71
       Previous Monthly High:  4110.71
       Previous Monthly Low:  3341.58
       Daily Fibonacci 38.2%:  3893.23
       Daily Fibonacci 61.8%:  4005.51
       Daily Pivot Point S1:  3567.34
       Daily Pivot Point S2:  3401.54
       Daily Pivot Point S3:  3091.58
       Daily Pivot Point R1:  4043.1
       Daily Pivot Point R2:  4353.05
       Daily Pivot Point R3:  4518.86


BTC/USD 60-minute chart

  • Near-term bearish pennant pattern formation eyed via the 60-minute chart view.  


BTC/USD daily chart

  • Price action via the daily is sitting on top of a pennant pattern after the bulls managed to escape this a few sessions ago.