Home Bitcoin Technical  Analysis: BTC/USD is in big trouble of seeing another test of $6000, if bulls fail to break resistance
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Bitcoin Technical  Analysis: BTC/USD is in big trouble of seeing another test of $6000, if bulls fail to break resistance

  • Bitcoin price trading broadly flat in the latter stages of Friday’s session.  
  • BTC/USD moving within a narrowing range. Danger still looms of another potential drop back down to test $6000.  

 

BTC/USD 4-hour chart  

 
 

Spot rate:                   6593.8

Relative change:       +0.40%

High:                          6626.1

Low:                           6506.6

 

Trend:                        Neutral.

 

Support 1:                  6455.0, ascending trend line support.  

Support 2:                  6227.0, support on 4-hour chart.

Support 3:                  5800.0, demand zone.  

Resistance  1:             6682.0,  descending trend line of triangle.  

Resistance  2:             6835.0, resistance on 4-hour chart.

Resistance  3:             7100.0, supply area.  

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