BTC/USD Technical Analysis: Market shows bullish tendencies

BTC/USD daily chart

• BTC/USD is trading at $3,985 as the markets opened this Tuesday.
• The market is consolidating in a flag formation and is ready for a breakout.  

BTC/USD 4-hour chart

• The 4-hour BTC/USD price chart shows future bullish behavior as per the Ichimoku indicator.
• The moving average convergence/divergence (MACD) shows decreasing bearish momentum.

BTC/USD hourly chart

• The last session of the hourly BTC/USD is trending above the upper band of the 20-day Bollinger band, which is a strongly bullish sign.
• The market is above the 20-day simple moving average (SMA 20), SMA 50, and SMA 200 curves which are all bullish indicators.
• The last six sessions of the Elliot wave oscillators are bullish.

Key Levels

• Resistance 3: $4,093.13
• Resistance 2: $4,054.37
• Resistance 1: $4,012.13
• Pivot Point: $3,973.38
• Support 1: $3,931.14
• Support 2: $3,892.39
• Support 3: $3,850.15