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Bitcoin Technical Analysis: BTC/USD must breakdown $4000-200 range for greater upside

  • Bitcoin price in the second half of Monday’s session is trading within minor gains of some 0.7%.
  • BTC/USD price still very much supported to  upside  by a long-running ascending trend line, since mid-February.
  • Heavy near-term supply zone running from $4100-250 price range, BTC/USD has not been above since November 2018.  

 

Spot rate:                  4124.54

Relative change:       +0.70%

High:                         4136.75

Low:                          4052.19

 

Trend:                        Bullish/Neutral

 

 

BTC/USD 60-minute chart

  • Price struggling to breakdown near-term top area of $4130-50, 30 March high.  

BTC/USD daily chart

  • Ascending trend line has been in play via daily since early February. A breach could be catastrophic.  

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