Bitcoin Technical Analysis: BTC/USD big bad bull flag eyed

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  • Bitcoin price on Monday was trading marginally in negative territory, down just 0.10% through the mid-point of the session. 
  • BTC/USD price action has formed a bullish flag pattern, subject to a breakout north. 
  • Bitcoin has seen some minor under-performance in comparison to it peers. Still appearing to be much caution with commitment here for now. 

BTC/USD 60-minute chart 

Spot rate:                  6415.6

Relative change:      -0.10%

High:                         6464.0

Low:                          6316.9

Trend:                       Neutral

Resistance 1:           6417.0, upper part of bull flag.

Resistance 2:           6442.1, supply area.

Resistance 3:           6485.3, daily pivot point resistance.

Support 1:                6384.0, lower part of bull flag.

Support 2:                6372.6, 50MA.

Support 3:                6338.2, daily pivot point support.

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