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Bitcoin Technical Analysis: BTC/USD bullish flag structure subject to break higher

  • Bitcoin price trading up with modest gains of some 0.40% in the second half of Tuesday.  
  • BTC/USD price action via the 4-hour chart view, has formed a bullish flag pattern.  

BTC/USD 15-minute chart

 

  • Near-term price action has made a breakout above a descending trend line formation.  

 

 

Spot rate:                   4143.5

Relative change:       +0.45%

High:                          4149.9

Low:                           4056.0

 

Trend:                         Neutral  

 

Support 1:                  3977.46, daily pivot point support.

Support 2:                  3948.19,  daily pivot point support.

Support 3:                  3918.38, daily pivot point support.

Resistance 1:             4036.54, daily pivot point resistance.

Resistance  2:             4066.35, daily pivot point resistance.

Resistance  3:             4095.62, daily pivot point resistance.

 

BTC/USD 4-hour chart  

  • Price action is moving within a bullish flag pattern formation, via the 4-hour.  

BTC/USD daily chart

  • The price has been unable to escape from a range-block, seen from $3600-4300.  

 

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