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Bitcoin Technical Analysis: BTC/USD subject to downside risks

  • Bitcoin price nursing losses of around 2% in the second half of the session on Monday.  
  • BTC/USD is moving within a narrowing range block formation, subject to a potential breakout to the downside.

 

Spot rate:                  3716.60  

Relative change:       -2.01%

High:                          3804.72

Low:                           3672.33

 

Trend:                         Bearish

 

Trends:
       Daily SMA20:  3759.18
       Daily SMA50:  3619.45
       Daily SMA100:  3722.48
       Daily SMA200:  5085.35
Levels:
       Previous Daily High:  3818.37
       Previous Daily Low:  3764.23
       Previous Weekly High:  4187.25
       Previous Weekly Low:  3659.1
       Previous Monthly High:  4187.25
       Previous Monthly Low:  3338.98
       Daily Fibonacci 38.2%:  3784.91
       Daily Fibonacci 61.8%:  3797.69
       Daily Pivot Point S1:  3761.72
       Daily Pivot Point S2:  3735.9
       Daily Pivot Point S3:  3707.58
       Daily Pivot Point R1:  3815.86
       Daily Pivot Point R2:  3844.18
       Daily Pivot Point R3:  3870

 

BTC/USD 60-minute chart

  • Big near-term buying area observed between $3650-3700 price range.  

BTC/USD daily chart

  • Price action moving within a narrowing daily range block formation, subject to a potential breakout to the downside.

 

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