Bitcoin price (BTC/USD) little-changed in lacklustre Tuesday morning session

The Bitcoin price (BTC/USD) has seen little change on Tuesday morning, with its performance hindered by frequent, albeit minor, fluctuations.

The original cryptocurrency had another lacklustre session yesterday, with its price hovering below the $3,500 mark. The digital coin had a somewhat positive start to the session, as it rose to around $3,475 during the opening hours. However, the coin experienced a sharp pull-back in late morning trading, which erased its earlier progress. BTC saw another modest uptick in the afternoon, but it eventually finished the session at $3,459.15, down from its opening level of $3,467.21.

Today, Bitcoin’s performance has been marred by frequent minor fluctuations, with its price gyrating in a tight range above $3,450. At the time of writing, the Bitcoin price was hovering around $3,470, according to data from digital currency tracker Coinmarketcap.

In its February 4 technical analysis, industry website Coindesk suggested that there may be a slight hope for Bitcoin bulls, if the cryptocoin managed to secure a break above the $3,450 mark.

“Bitcoin has charted a falling wedge pattern on the daily chart. A break above $3,450 would confirm a wedge breakout and expose key resistance lined up at $3,658 (the high of the gravestone doji candle created on Jan. 26),” the analysis reads. Coindesk added that a break above the $3,658 resistance level would expose the psychological resistance of $4,000.

Bitcoin topped the $4,000 level in early January, but it wasn’t able to defend the level for more than a few trading sessions. The coin ended the month at $3,457.79, posting its sixth consecutive monthly loss.

In today’s trading, the Bitcoin price stood at $3,467.74, as of 10:28 GMT. The digital coin has gained 0.3% in the past 24 hours. Its total market capitalisation currently stands at $60.7 billion, which represents 53.4% of the combined value of all digital currencies.