BTC/USD
yesterday’s BTC price analysis, we saw Bitcoin correcting down marking a daily low around the $3700 support line. From there, Bitcoin had returned to the $3800 area.
Following the correction down, Bitcoin found support at the $3700 level, along with the 4-hour chart’s 200 and 100 moving average lines (marked light green and white on the following chart). MA-100 is about to cross over MA-200 which could turn out to be a bullish signal for the mid-term future.
From the bear side, support in range lies at $3800, $3700 (strong support along with the ascending trend-line), $3600 and $3480.
From the bull side, resistance levels lie around $3900, $3950, $4050, $4200.
The trading volume is still low. This is likely because of the weekend along with the holidays.
BitFinex’s open short positions had increased to 33.2K BTC, not a significant change.
Following the correction down, Bitcoin found support at the $3700 level, along with the 4-hour chart’s 200 and 100 moving average lines (marked light green and white on the following chart). MA-100 is about to cross over MA-200 which could turn out to be a bullish signal for the mid-term future.
From the bear side, support in range lies at $3800, $3700 (strong support along with the ascending trend-line), $3600 and $3480.
From the bull side, resistance levels lie around $3900, $3950, $4050, $4200.
The trading volume is still low. This is likely because of the weekend along with the holidays.
BitFinex’s open short positions had increased to 33.2K BTC, not a significant change.
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