Bitcoin Technical Analysis: BTC/USD the bears may not be done just yet

• Bitcoin price is nursing minor losses on Tuesday of just some 0.5%, as it stabilizes after the heavy selling on the weekend.  
• BTC/USD price action via the 60-minute view is consolidating, potential formation of a bearish flag pattern observed.  

BTC/USD 15-minute chart

• BTC/USD 15-minute view, price has been caught by a near-term area of demand, tracking around $3775 area.

Spot rate:                0.3211

Relative change:     -3.01%

High:                        3827.21

Low:                         3766.83

Trend:                       Bearish/Neutral

Trends:
       Daily SMA20:  3672.06
       Daily SMA50:  3626.06
       Daily SMA100:  3834.7
       Daily SMA200:  5169.62
Levels:
       Previous Daily High:  3859.68
       Previous Daily Low:  3732.06
       Previous Weekly High:  3984.92
       Previous Weekly Low:  3556.71
       Previous Monthly High:  4110.71
       Previous Monthly Low:  3341.58
       Daily Fibonacci 38.2%:  3810.93
       Daily Fibonacci 61.8%:  3780.81
       Daily Pivot Point S1:  3747.95
       Daily Pivot Point S2:  3676.2
       Daily Pivot Point S3:  3620.33
       Daily Pivot Point R1:  3875.57
       Daily Pivot Point R2:  3931.44
       Daily Pivot Point R3:  4003.19

BTC/USD 60-minute chart

• Price action is narrowing and within consolidation  mode, since the heavy selling on Sunday. The price has formed somewhat of a bearish flag pattern.  

BTC/USD daily chart

• Heavy supply observed from $4000-4200 price range. Daily ascending trend line providing needed comfort for  price.