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Bitcoin Technical Analysis: BTC/USD breaks back below descending trend line, further selling pressure could be looming

FX Street

Updated: 9 Jul. 2018 | 15:11

Bitcoin price appears to be itching for a breakout, just a matter of time, however trading flag on Monday.
BTCUSD has formed a bull flag, but within a large wedge pattern.

BTC/USD 30-minute chart

Spot rate: 6709.9

Relative change: +0.04%

High: 6745.2

Low: 6663.0

Trend: Neutral

Support 1: 6688.6, 100MA.

Support 2: 6667.6, lower part of bull flag.

Support 3: 6585.6, lower part of wedge pattern.

Resistance 1: 6724.3, 50MA.

Resistance 2: 6742.8, upper part of bull flag.

Resistance 3: 6777.4, (resistance on 30-minute chart)>

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