Bitcoin price slides below the $4,000 key resistance

Technical Analysis

Strategy: Short

  • Bitcoin price slides below the $4,000 key resistance (see daily chart)
  • The price went down 5.5% from $4,030 to $3,753 today at 06:00 UTC (see 1 hour chart)
  • BTC/USD long positions are decreasing, so this is a bearish sign
  • A further price drop is likely
  • Next support level at $3,550
  • A break below this level would bring a re-test of the next support level of $3,150

Daily Chart

1 Hour Chart

Analysis by Vincenzo Stefanini

Charts by Trading View

Prices based on Bitstamp

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