- Bitcoin price is trading up in minor positive territory, small gains of 1.5% seen.
- BTC/USD price action is still moving within another pennant structure, which would could expose $4000 again to the downside.
BTC/USD 60-minute chart
Spot rate: 32.78
Relative change: +4.25%
High: 33.08
Low: 30.64
Trend: Bullish
Resistance 1: 4400.00, upper trend line of pennant.
Resistance 2: 4490.00, daily pivot point resistance.
Resistance 3: 4714.17, daily pivot point resistance.
Support 1: 4190.15, lower trend line of pennant.
Resistance 2: 4140.74, daily pivot point support.
Resistance 3: 4014.94, daily pivot point support.
BTC/USD dailychart
- Price has stabilized around the $4000 mark, producing a bottom for now, a failure to hold will likely result in a fast move towards $3000.
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