- Bitcoin price on is seen trading higher by around 1.5% on Wednesday, as the price enjoys some up time within a very choppy trading week so far.
- BTC/USD has been stuck within a stubborn range since the plummet earlier this month on 5th September, which could be very costly.
- Price action has also been forming a head and shoulders pattern, the neckline is tracking around $6400-6350 area, if broken a drop down to retest $6000 to the downside could be seen.
BTC/USD 4-hour chart
Spot rate: 6531.4
Relative change: +1.41 %
High: 6558.0
Low: 6382.5
Trend: Bullish.
Resistance 1: 6585.0, supply zone & top area 14-15 September top area.
Resistance 2: 6770-6810.0, resistance on 4-hour and high area 21-22 September.
Resistance 3: 7100.0, 28th August high and consolidation area during bull run of end August-start September.
Support 1: 6415.0, support on 4-hour chart.
Support 2: 6370, neckline, ascending trend line.
Support 3: 6207.0, demand zone.