Bitcoin Technical Analysis: BTC/USD backing into $6,000
|- Bitcoin's pattern of cyclical bidding shocks appears to have ended, and is now heading in the opposite direction.
- BTC traders are seeing prices slump back towards the 6,000.0 major level.
- Bitcoin has struggled to develop a bullish trend in 2018, and highs continue to drop lower on Daily candles.
| Spot rate: | 6252.0 |
| Relative change: | Negligible |
| High: | 6283.0 |
| Low: | 6220.0 |
| Trend: | Bearish |
| Support 1: | 6080.0 (current week low) |
| Support 2: | 5936.0 (S2 daily pivot) |
| Support 3: | 5796.0 (S3 daily pivot) |
| Resistance 1: | 6395.0 (June 11th swing high) |
| Resistance 2: | 6537.0 (61.8% Fibo retracement level) |
| Resistance 3: | 6820.0 (two week high) |
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