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BTC/USD daily chart

  • Bulls opened up the Saturday market by crawling Bitcoin’s price up to $3,850.
  • The price is trending inside the green Ichimoku cloud which shows that the price is consolidating before a breakout.
  • The green cloud is exceptionally thick, which shows that it is an active area of support.

BTC/USD 4-hour chart

  • The relative strength index (RSI) was trending in the overbought zone and is now going towards the neutral area.
  • The moving average convergence/divergence (MACD) shows that momentum has reversed from bullish to bearish.

BTC/USD hourly chart

  • The last session of the BTC/USD hourly chart crept above the lower curve of the 20-day Bollinger curve which is a bullish sign.
  • The market is trending below both the 20-day simple moving average (SMA 20) and SMA 50.  
  • The market is still trending above the SMA 200 curve.
  • The Elliot Wave oscillator’s last four sessions were red which is a significant bearish sign.

Key Levels

  • Resistance 3: $4,051.95
  • Resistance 2: $3,981.17
  • Resistance 1: $3,912.43
  • Pivot Point: $3,841.65
  • Support 1: $3,772.90
  • Support 2: $3,702.12
  • Support 3: $3,633.38