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  • Bitcoin price on Monday was seen nursing minor losses of around 1%, as price action continues to range.  
  • BTC/USD price action is moving within a narrow fashion, swinging between $6100 as a low up to $6600.
  • Bitcoin’s current movement could be forming what looks to be a large bearish flag potentially, after the huge drop on 5th September.

 

 

BTC/USD 60-minute chart  


 

Spot rate:                   6439.7

Relative change:        -0.95%

High:                            6543.3

Low:                            6414.2

 

Trend:                         Bearish

 

Support 1:                   6410.0,  support on 4-hour chart & 50MA.

Support    2:                  6190.0, key demand zone.

Support    3:                  5863.4, 14th August low.

Resistance 1:             6530.0,  supply zone.  

Resistance 2:             6600.0, top of current range.  

Resistance 3:             6635.0, 100MA (4-hour)  

Expert score

5

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