Home Bitcoin technical analysis: BTC/USD bounces for now back to $6500 area, but is this could be the bears taking a break ahead of further pressure
Crypto News

Bitcoin technical analysis: BTC/USD bounces for now back to $6500 area, but is this could be the bears taking a break ahead of further pressure

  • Bitcoin builds on the bounce seen during Wednesday’s session, up on Thursday over 3%.
  • BTC/USD is flirting around resistance around the $6500 area on 60-minute chart.
  • Market behaviour of late, has been period of rest from the bears before renewed pressure to the downside.

 

BTC/USD 60-minute chart

Spot rate:                                     6491.10

Relative change:               +3.11%

High:                                                       6599.80

Low:                                                       6269.50

 

Trend:                                                   Neutral/Bullish

 

 

Resistance 1:                         6500.00, (resistance on 60-minute chart).

Resistance 2:                        6675.50, 100MA & 38.2% Fibonacci.

Resistance 3:                        6860.10, 50% Fibonacci.

Support 1:                                 6462.50, 23.6% Fibonacci.

Support 2:                                   6269.50, today’s (Thursday) low.

Support 3:                                   6106.50, 13th June low & (support on 60-minute chart)

 

 

 

 

 

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.