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Bitcoin Technical Analysis: BTC/USD bulls are staging a rebound

  • Bitcoin price on Monday trading down with marginal gains of 1%, after the huge surge on Sunday.
  • BTC/USD has formed a chunky looking bullish reversal candlestick, with that push seen during the session on 25th November.
  • Next big challenge for the bulls will be to smash back through $4500 price region. 

BTC/USD daily chart 

 

Spot rate:                  3908.44

Relative change:      -0.95%

High:                         4075.10

Low:                          3978.31

Trend:                        Bearish/Neutral

Support 1:                  3880.00, lower part part of recent range block.

Support 2:                  3563.52, daily pivot point support.

Support 3:                  3191.27, daily pivot point support.

Resistance 1:             4092.97, upper part of range block.

Resistance 2:             4211.44, daily pivot point resistance.

Resistance 3:             4487.10, daily pivot point resistance.

BTC/USD 60-minute chart

  • Price action over the 60-minute chart view has formed a near-term range block, subject to an extended move north. 

Source: fxstreet

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