Bitcoin Technical Analysis: BTC/USD price action is very dull on Thursday, as the lower highs and lower lows point to a break of vital support, which could be catastrophic

• Bitcoin price nursing nominal losses on Thursday, as the price range narrows.
• BTC/USD has been producing lower highs and lower lows, which point to a potential larger move to the downside.
• The key near-term support is eyed at the 24th June low, around $5759.

BTC/USD 4-hour chart

Spot rate:                                     6105.4

Relative change:               -0.45%

High:                                                   6170.9

Low:                                                     6072.74

Trend:                                                 Bearish/Neutral

Support 1:                                   5992.1, 27th June low.

Support 2:                                     5908.9, (support on 4-hour chart)

Support 3:                                     5759.0, 24th June low.

Resistance 1:                          6180.5, supply zone.

Resistance 2:                           6205.0, (resistance on 4-hour chart).

Resistance 3:                           6256.1, 50MA.