Bitcoin Technical Analysis: BTC/USD took a big beating from the aggressive bears, as door is left open for further selling pressure

• Bitcoin price was hammered during the early hours of Thursday, dropping over 5%.
• BTC/USD bears have cleared a near-term key demand area, that was minimizing downside, $6500.

BTC/USD 60-minute chart

Spot rate:                  6295.1

Relative change:           – 5.05%

High:                                                6630.1

Low:                                                   6252.0

Trend:                                             Bearish

Support 1:                               6160.0, support on 60-minute chart.

Support 2:                               6100.0, demand zone.

Support 3:                               5800.0, bottom of the buying range, key leve.

Resistance 1:                     6230.5, resistance on 60-minute chart.

Resistance 2:                     6250.0, supply area.

Resistance 3:                     6400-500.0, prior strong demand area, new supply.