Bitcoin Technical Analysis: BTC/USD bears take over as price tries to stay above $6,700 – Confluence Detector
|- Healthy support for BTC/USD daily chart lies at $6,515.
- There are no strong resistance levels on the upside.
BTC/USD daily confluence detector
BTC/USD bears pulled back the price from $6,802.58 to $6,775.30 in the early hours of Friday. There are no healthy support levels that can keep the price in the $6,700-zone. However, if the bears want to pull the price below $6,500, they will need to conquer the $6,515 support level. The $6,515 level has the one-day Pivot Point support-one. On the upside, there are no strong resistance levels. So, if the bulls can regain control, they will be able to do some serious damage.
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.