Bitcoin technical analysis: BTC/USD critical daily trend line prevents devastation for now

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  • Bitcoin price is trading down some 11% in the second half of the session on Friday. 
  • BTC/USD price action via the daily chart view is testing a critical daily trend line to the downside. 
  • The noted support can be seen tracking around $11,000 price mark. 

 

Spot rate:                11,682.06 

Relative change:      +2.95%

High:                        11,785.39

Low:                         11,085.27

BTC/USD 60-minute chart

  • Upside is capped by a barrier running from $11,600-800 range via the 60-minute.

 

BTC/USD daily chart

  • Daily ascending trend line stops the bears from causing a chunky wave of selling pressure. 

Get the 5 most predictable currency pairs

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