Bitcoin technical analysis: BTC/USD bounces for now back to $6500 area, but is this could be the bears taking a break ahead of further pressure

  • Bitcoin builds on the bounce seen during Wednesday’s session, up on Thursday over 3%.
  • BTC/USD is flirting around resistance around the $6500 area on 60-minute chart.
  • Market behaviour of late, has been period of rest from the bears before renewed pressure to the downside.

 

BTC/USD 60-minute chart

Spot rate:                    6491.10

Relative change:         +3.11%

High:                            6599.80

Low:                            6269.50

 

Trend:                          Neutral/Bullish

 

 

Resistance 1:             6500.00, (resistance on 60-minute chart).

Resistance 2:             6675.50, 100MA & 38.2% Fibonacci.

Resistance 3:             6860.10, 50% Fibonacci.

Support 1:                  6462.50, 23.6% Fibonacci.

Support 2:                  6269.50, today’s (Thursday) low.

Support 3:                  6106.50, 13th June low & (support on 60-minute chart)

 

 

 

 

 

 


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