Home Bitcoin Technical  Analysis: BTC/USD crashes below ascending trend line support by some chunky force of sellers
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Bitcoin Technical  Analysis: BTC/USD crashes below ascending trend line support by some chunky force of sellers

  • Bitcoin price nursing losses of around 1% during Wednesday’s session, after sellers pilling in during early hours.
  • BTC/USD crashed through a supporting trend line, stops triggered to the downside around $6,560.  
  • Buyers jumped in within a proven demand area, ranging from $6,464-400.

 

BTC/USD 60-minute chart  


 
 

Spot rate:                   6599.9

Relative change:       -0.95%

High:                          6663.1

Low:                           6513.5

 

Trend:                        Bearish

 

Support 1:                 6460-40, demand zone.

Support  2:                 6400.0, support on 60-minute chart.

Support  3:                 6331.0, 25 September low.  

Resistance  1:            6560.1, 100MA (60-minute).

Resistance  2:            6575.9, breached ascending trend line.  

Resistance  3:            6640.0, supply zone.  

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