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  • Bitcoin price jumps around 2% higher on Thursday, after a decent surprise bounce late on Wednesday,
  • BTC/USD was moving within a bearish pennant, which appeared set up for another leg lower.
  • Bulls managed to escape the pennant and resistance, which at the time was seen at $6335.

 

 

 

BTC/USD 4-hour chart  


 

Spot rate:                    6463.7

Relative change:        +2.06%

High:                           6490.0

Low:                            6333.4

 

Trend:                         Bullish

 

Support 1:                   6405.0, 50MA.

Support    2:                  6325.5,  on top of broken pennant.  

Support    3:                  6230.0, demand area.

Resistance 1:              6385.0, resistance on 4-hour chart.

Resistance 2:             6760.9, 100MA.

Resistance 3:             7100.0, underneath the broken ascending channel, which triggered sell-off.

 

Expert score

5

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