Bitcoin Technical Analysis: BTC/USD is firmly dictated by the makings of a bearish pennant, a break south appears to be imminent

• Bitcoin price seen up with a modest 1% gain, with a lack of firm commitment in either direction of late.
• BTC/USD continues to bounce within a bearish pennant pattern, remains subject to break to the downside.

BTC/USD 60-minute chart

Spot rate:                                     6577.0

Relative change:               +0.70%

High:                                                   6637.5

Low:                                                      6451.9

Trend:                                                 Neutral

Support 1:                                  6398,3, 50MA.

Support 2:                                    6328.7, 100MA.

Support 3:                                    5959.2, lower part of pennant, demand zone.

Resistance  1:                          6700.0, upper part of pennant.

Resistance 2:                          6900.5, supply zone.

Resistance 3:                          7189.0, 9th April high.