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Bitcoin Technical Analysis: BTC/USD range-block of death eyed again

  • Bitcoin price on Monday nursing minor losses of just some 0.4%, as a lack of commitment continues to be seen.  
  • BTC/USD back to move within an extremely narrowing daily range, subject to a breakout.  

BTC/USD 15-minute chart

  • Price caught between two forceful zones, within the tight trading range.  

Spot rate:                3410.06

Relative change:     -0.39%

High:                        3436.06

Low:                         3395.62

 

Trend:                       Bearish

 

Support 1:                3377.61, daily pivot point support.

Support 2:                3339.97, daily pivot point support.

Support 3:                3292.74, daily pivot point support.

Resistance 1:           3462.48, daily pivot point resistance.

Resistance  2:           3509.70, daily pivot point resistance.

Resistance  3:           3547.35, daily pivot point resistance.

 

BTC/USD 60-minute chart

  • Price action moving within a bearish flag structure, seen via the 60-minute view.  

    BTC/USD daily chart

    • Price moving within a narrowing daily range, subject to further potential downside.  

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