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Bitcoin technical analysis: BTC/USD critical weekly support being tested $6500

  • Bitcoin price is trading in negative territory, down some 1.90% in the second half of the session.  
  • BTC/USD is a the mercy of the bears, following critical $7000 breach earlier in the week.
  • Eyes are on a test of the breached zone $7000-6800 which was seen on Tuesday.  

BTC/USD weekly chart

The price is heading towards the next major weekly level at $6500, the low of 29 November week.  

BTC/USD daily chart

Price action remains vulnerable after breaking critical zone $7000-6800, sitting under breached pennant structure.  

 

Spot rate:                   6420.89

Relative change:       -1.90%

High:                         6717.01

Low:                           6420.04

 

 

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