Bitcoin Technical Analysis: Bearish momentum builds up, $6000 back in sight
|- BTC/USD's mid-week recovery remains shallow, sellers retake control of the price action with the daily RSI easing back to the 40 mark.
- Only a daily close above $6800 (critical Fibo resistance) could neutralize the short-term bearish outlook.
- A decisive break below $6000 could open the door to new 2018 low.
Spot rate: 6180
Relative change: -3%
High: 6377
Low: 6128
Trend: Bearish
Support 1: 6000 (psychological level/static support).
Support 2: 5750 (2018 low/Jun. 24 low).
Support 3: 5500 (Oct. 24, 2017, low).
Resistance 1: 6370 (50-DMA).
Resistance 2: 6800 (Fibo. 23.6% retracement of May 6 - Jun. 24 fall).
Resistance 3: 7350 (Fibo. 38.2% retracement of May 6 - Jun. 24 fall).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.