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  • Bitcoin price drops over 2% on Monday, crypto market wide pressure seen in the session.
  • Bears are driving the price lower towards key support, $6150 area.  
  • BTC/USD price action moving within a triangular pattern formation, subject to a potential breakout to the downside.
  • In terms of news flow, MapleExchange reportedly were ‘hacked’ for around $6 million in Bitcoin. It is noted clients can not be refunded. The company’s Twitter page and website have since been taken down.

 

BTC/USD 4-hour  chart  


 

Spot rate:                   6267.88

Relative change:       -2.04%

High:                          6418.89

Low:                           6383.41

 

Trend:                        Bearish

 

Support 1:                  6165.0, consolidation area 11-14 October.  

Support  2:                  6100.0, demand zone.

Support  3:                  6065.1, 11th October low.  

Resistance  1:             6383.0, 100MA (4-hour).  

Resistance  2:             6405.2, 50MA (4-hour) & upper part of triangular pattern.

Resistance  3:             6450.0, supply zone.