Bitcoin BTC Technical Analysis: BTC/USD firm confluences for bears back in drivers seat

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  • Bitcoin price on Friday was nursing losses of around 0.90% through the mid-point of the session.
  • Bears extend the move south, following BTC/USD breaking a key near-term supporting ascending trend line to the downside.
  • Price sees firm rejection at 61.8% Fibonacci, after it attempted to climb back north.

 

BTC/USD 60-minute chart 


 
 

Spot rate:                  6342.7

Relative change:      -0.91%

High:                         6417.5

Low:                          6334.5

 

Trend:                       Bearish.

 

Support 1:                6331.0, 38.2% Fibonacci.

Support 2:                6320.6, daily pivot support. 

Support 3:                6247.3, daily pivot support.

Resistance 1:           6369.5, 50% Fibonacci.

Resistance 2:           6409.0, 61.8% Fibonacci.

Resistance 3:           6479.7, daily pivot resistance.

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