Bitcoin Technical Analysis: BTC/USD at serious danger of a fast fall, after the bulls failed to stage reversal
|- Bitcoin is on the back foot on Monday down over 1%, with risk of fast fall.
- Bears are toying with a key near-term zone of support, tracking around the $6900-6800 area.
BTC/USD 60-minute chart
Relative change: -1.19%
High: 7153.6
Low: 6930.3
Trend: Bearish
Support 1: 6900.0-6800.0, key near-term demand zone.
Support 2: 6680.0, consolidation area on 17th July, prior to chunky bull run.
Support 3: 6128.0, 14th July low.
Resistance 1: 7015.50, 50MA.
Resistance 2: 7150.0, top area seen today (Monday).
Resistance 3: 7227.7, 100MA.
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.