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Bitcoin Technical Analysis: BTC/USD back in a range as exciting as watching paint dry, after being attacked by bears

  • Bitcoin is seen up with minor gains of just 1%, after being sent back south late on Wednesday.
  • BTC/USD was attacked by market bears on Wednesday, up at the heights of $6899.
  • The narrowed range is seen within $6200-6600, as has been the case since 9th August.

 

BTC/USD 60-minute chart


 

Spot rate:                    6420.3

Relative change:        +0.95%

High:                           6502.6

Low:                            6350.0

 

Trend:                         Bullish/Neutral
 

 

Resistance 1:              6455.0, 50MA.  

Resistance 2:             6499.5, 100MA.  

Resistance 3:             6610.0, (resistance on 60-minute chart).

Support 1:                    6250.0, bottom area seen 12/15/16/21/22nd August.

Support    2:                  6000.0, big psychological area.  

Support    3:                  5900-800, big demand area and 14th August low.  

 

 

 

 

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