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Bitcoin Technical Analysis: BTC/USD the bulls are sharpening their horns for double bear barrier ahead

  • Bitcoin price seen trading in positive territory within some modest gains of 0.5%.
  • BTC/USD price action is still grinding higher within a rising wedge pattern.

 

 

BTC/USD 60-minute chart


 

Spot rate:                    6736.4

Relative change:        +0.40%

High:                           6769.9

Low:                            6652.7

 

Trend:                         Bullish

 

Support 1:                   6615.0,  (support on 4-hour chart).  

Support    2:                  6535.5, lower part of rising wedge.

Support    3:                  6260.0, demand zone.

Resistance 1:              6842.5, upper part of rising wedge and supply zone.

Resistance 2:              6908.0, 22nd August high.

Resistance 3:              7125.0,    consolidation  area 5-7 August below big bear attack.

 

 

 

 

 

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