Bitcoin Technical Analysis: BTC/USD was lifted somewhat above a demand zone, that came to the rescue, price attempting to break down near-term $6850 resistance, 50MA

  • Bitcoin price is still very much stagnant on Tuesday, after the heavy selling pressure over the weekend, down 0.85% on Tuesday.
  • BTC/USD is encountering near-term resistance seen at $6850, 50MA on the 60-minute chart.
  • No clear signs yet for a shift back into the bull’s favour or whether the bears will resume pressure.

 

BTC/USD 60-minute chart

 

Spot rate:                    6814.50

Relative change:         0.85%

High:                            6873.40

Low:                            6784.10

 

Trend:                          Bearish

 

 

Support 1:                   6780.00, entry of demand zone.

Support 2:                   6630.00 (support on 60-minute chart).

Support 3:                   6430.00, 1st April low.

Resistance 1:              6850.00 50MA.

Resistance 2:              7182.50, 100MA.

Resistance 3:              7735.70, underneath breached ascending channel.

 

 

 

 

 

 


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