Bitcoin Technical Analysis: BTC/USD lack of momentum for any upside, bears look set to capitalize

  • Bitcoin takes a beating of 3.5%, price firmly in the red into the second part of the day on Tuesday. 
  • BTC/USD bears are seriously pressing for a breach from a rising channel formation via the 60-minute view
  • It almost appears as though Bitcoin is really yet to feel all of the wrath from the bears. 
  • Several newswires calling Bitcoin a bubble that has now popped, a very bold statement to through around indeed. 

 

BTC/USD 60-minute chart


 

 

Spot rate:                  3312.89

Relative change:      -3.56%

High:                         3426.98

Low:                          3314.06

 

 

Trend:                        Bearish

 

Support 1:                  3314.61, daily pivot support. 

Support 2:                  3219.08, daily pivot point support.

Support 3:                  3081.70, daily pivot point support.

Resistance 1:             3547.51, upper part of ascending channel.

Resistance 2:             3684.89, daily pivot point resistance.

Resistance 3:             3780.42, daily pivot point resistance.

 

 

 

 

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