- 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/