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  • Bitcoin price was trading down on Thursday, nursing losses of around 0.50%, through the mid-point of the session.  
  • BTC/USD price action has been moving within an ascending channel north. An attempt to breakout failed, after being rejected by upper trend line.  
  • Resistance is still very much firm running from $6500-600 trading range. It will take much momentum to break above.  

 

 

BTC/USD 4-hour  chart  


 
 

Spot rate:                   6466.7.

Relative change:       -0.51%

High:                          6443.0

Low:                           6510.5

 

Trend:                        Bearish

 

Support 1:                  6405.6,  daily pivot point support. &  lower trend line of channel.

Support  2:                  6363.5,  daily pivot point support.  

Support  3:                 6209.1, low area 29 & 31 October.  

Resistance  1:            6544.2, daily pivot point resistance & upper trend line of channel.  

Resistance  2:            6634.66,  daily pivot point  resistance

Resistance  3:            6657.6, 8 October high.