Bitcoin Technical Analysis: BTC/USD was lifted somewhat above a demand zone, that came to the rescue, price attempting to break down near-term $6850 resistance, 50MA

• Bitcoin price is still very much stagnant on Tuesday, after the heavy selling pressure over the weekend, down 0.85% on Tuesday.
• BTC/USD is encountering near-term resistance seen at $6850, 50MA on the 60-minute chart.
• No clear signs yet for a shift back into the bull’s favour or whether the bears will resume pressure.

BTC/USD 60-minute chart

Spot rate:                                     6814.50

Relative change:               0.85%

High:                                                     6873.40

Low:                                                       6784.10

Trend:                                                   Bearish

Support 1:                                   6780.00, entry of demand zone.

Support 2:                                     6630.00 (support on 60-minute chart).

Support 3:                                     6430.00, 1st April low.

Resistance 1:                           6850.00 50MA.

Resistance 2:                           7182.50, 100MA.

Resistance 3:                           7735.70, underneath breached ascending channel.