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  • Bitcoin price was on the back foot on Friday, down 1%, at threat of testing key near-term support.
  • BTC/USD price action is observing a double bottom formation on the 15-minute chart.
  • New near-term trading consolidation range between 6575-6653, following heavy drop earlier in session.

 

BTC/USD 15-minute chart  

 

Spot rate:                   6617.8

Relative change:       -1.05%

High:                          6826.4

Low:                           6587.9

 

Trend:                        Bullish

 

Support 1:                  6590.0-6577.0, near-term key demand area.

Support 2:                  6577.0,    double bottom area.

Support 3:                  6500.0, consolidation area, prior to bull run 27 Sept.

Resistance  1:             6653.5, resistance on 15-minute & neckline area.

Resistance  2:             6715.5, supply zone.

Resistance  3:             6791.3, 28 September high/