Home Bitcoin Technical  Analysis: BTC/USD cannot progress past very stubborn supply zone, bulls  tamed  for now
Crypto News

Bitcoin Technical  Analysis: BTC/USD cannot progress past very stubborn supply zone, bulls  tamed  for now

  • Bitcoin price  stabilizes  after the chunky bull run seen in the prior session.  
  • BTC/USD does not have enough momentum at this time, to pass through supply zone, $6745-6775.
  • Rising wedge pattern can be seen on the 30-minute chart view.  

 

BTC/USD 30-minute chart

 

 

Spot rate:                                     6697.5

Relative change:          -0.47%

High:                                                   6771.0

Low:                             6666.0

Trend:                          Neutral

 

Resistance  1:             6728.0,  (resistance on 60-minute chart).

Resistance 2:              6745.0, supply zone entry.

Resistance 3:                        6775,  (resistance on 60-minute chart) & supply zone.

Support 1:                   6690.5, lower wedge support.

Support 2:                                    6640.0, demand zone.

Support 3:                   6561.2,  (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.