RATE Group | BTC/USD keeps trending in a narrow range as bears take over this Tuesday
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BTC/USD keeps trending in a narrow range as bears take over this Tuesday

05 Nov BTC/USD keeps trending in a narrow range as bears take over this Tuesday

Posted at 01:16h in Bitcoin News by

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  • BTC/USD had gone up from $9,207.30 to $9,413.30 this Monday.
  • The price of the asset is held up by the support stack at $9,255-$9,300.

BTC/USD has had a bearish start to the day as the price has gone down from $9,413.30 to $9,380. Before this, the asset had a big bullish day this Monday, wherein it jumped from $9,207.30 to $9,413.30. Overall, BTC/USD is still trending horizontally in a ~$400 range. Looking at the hourly breakdown for Monday and Tuesday, we can see an intraday support at $9,137.25, which BTC/USD used to bounce up. After a steady rise, BTC/USD spiked from $9,227.90 to $9,473.90 in just one hour. Since then, the price has been on a decline and has currently settled itself around $9,380.

BTC/USD daily confluence detector

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On the upside, there are three resistance levels of not at $9,400, $9,585 and $9,750. $9,400 has the four-hour Bollinger band upper curve and five-day Simple Moving Average (SMA 5) curve. $9,585 has the one-week Fibonacci 38.2%…

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