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  • Bitcoin was seen down on Wednesday over 2%, after running into a barrier, taking steam out of its upside movement.  
  • Bitcoin’s next challenge and key for further upside is to break near-term strong resistance heading into $8500.  

BTC/USD 15-minute chart

 

Spot rate:                  8222.0

Relative change:        -2.00%

High:                          8488.1

Low:                           8160.0

 

Trend:                        Bullish.

 

Resistance 1:            8275.0, 100MA.

Resistance 2:             8303.7, 50MA.

Resistance 3:            8435.1, supply zone entrance.

Support 1:                 8131.3, lower part of ascending wedge pattern.

Support 2:                 8000.0, psychological support.  

Support 3:                 7690.0, 24th July low.