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Bitcoin Technical Analysis: BTC/USD the range that has plagued price action continues

  • Bitcoin price on Friday trading down over 1% in the second half of the day.  
  • BTC/USD remains very much plagued by mundane daily price range.  

BTC/USD 15-minute chart

  • Buyers continue to protect the big near-term support area of $3500.  

 

Spot rate:                3545.52    

Relative change:     -1.30%

High:                         3577.89

Low:                          3515.32

 

Trend:                        Bearish

 

Support 1:                 3534.7, daily pivot point support.

Support 2:                 3499.7, daily pivot point support.

Support 3:                 3469.72, daily pivot point support.

Resistance 1:            3599.69, daily pivot point resistance.

Resistance  2:            3629.7, daily pivot point resistance.

Resistance  3:            3664.67, daily pivot point resistance.

 

BTC/USD 60-minute chart

  • Price continues to bounce within the range-block formation, as seen via the 60-minute.  

BTC/USD daily chart

  • Bitcoin remains stuck within the confinements  of narrow daily range, since 11th January.

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