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Bitcoin Technical Analysis: BTC/USD remains in dangerous territory, current consolidation mode still spells trouble

FX Street

Published date: 10 Aug. 2018 | 15:53

Bitcoin seen down just shy of 1% on Friday, after a brutal week of selling.
BTC/USD price moving within a narrow range, within a small structured ascending channel.

BTC/USD 60-minute chart

Spot rate: 6499.9

Relative change: -0.5%

High: 6573.8

Low: 6301.0

Trend: Bearish

Support 1: 6396.5, 50MA.

Support 2: 6330.1, lower part of ascending channel.

Support 3: 6170.0, demand zone.

Resistance 1: 6624.6, 100MA.

Resistance 2: 6695.1, upper part of ascending channel.

Resistance 3: 6790.4, supply zone.

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