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  • Bitcoin price on Tuesday very marginally in negative territory, bu just 0.5%.  
  • BTC/USD early this morning slipped below a supporting trend line and has seen a 4-hour close below.  
  • Should the bulls fail to break back above with the retest, there could be a fresh wave of downside pressure for BTC/USD.  

 

BTC/USD 4-hour chart  


 
 

Spot rate:                   6571.7

Relative change:       -0.50%

High:                          6644.7

Low:                           6552.3

 

Trend:                        Bearish/Neutral  

 

Support 1:                  6526.9, 100MA (4-hour).  

Support 2:                  6468.0, 50% Fibonacci & support on 4-hour.

Support 3:                  6388.6, 61.8% Fibonacci & demand zone.  

Resistance  1:             6580.5, broken ascending trend line.

Resistance  2:             6650.0, 23.6% Fibonacci & resistance on 4-hour.  

Resistance  3:             6800.0, supply zone & 22 – 28 September high area.