- Bitcoin price is seen up with consolation gains of just a mere 1% on Monday.
- BTC/USD is within consolidation mode, having formed a bearish pennant pattern subject to a break lower.
- Historical price behavior similar to what is currently being observed, indicates there could be vulnerabilities to further selling pressure for Bitcoin.
BTC/USD 60-minute chart
Spot rate: 6301.5
Relative change: +1.00%
High: 6373.7
Low: 6239.9
Trend: Bullish/Neutral
Support 1: 6290.0,100MA.
Support 2: 6265.2, lower part of pennant.
Support 3: 6127.0, support on 60-minute chart.
Resistance 1: 6325.0, 50MA.
Resistance 2: 6356.5, top part of pennant pattern.
Resistance 3: 6465.0, resistance on 60-minute chart.
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