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  • Bitcoin price was seen holding modest gains of around 0.5% on Thursday, with the bears remaining on the side lines for now.
  • BTC/USD price action is dictated by a bearish pennant pattern formation,

 

BTC/USD 60-minute chart

 

Spot rate:                                    6593.6

Relative change:          +0.53%

High:                                                   6704.7

Low:                                                      6525.0

 

Trend:                                                 Neutral

 

 

Support 1:                                  6583.0, 50MA.

Support 2:                                    6523.0, 100MA.

Support 3:                                    6327.0, (support on 60-minute chart).

Resistance  1:                          6701.2, upper part of pennant.

Resistance 2:                          6900.0, 11th June high.

Resistance 3:                          7300.0, (resistance on 60-minute chart).