Bitcoin Technical Analysis: Finally some support for BTC/USD
|- Bitcoin has pushed 2.82% higher on Wednesday after finding some support.
- The smaller timeframes have shown a break of the 6,712.48 hourly wave high.
Bitcoin Hourly Chart
This chart shows the pattern break to the upside on the hourly timeframe.
Price has also taken out the last wave high of 6,712.48.
7K could be a source for some resistance as traders often look at psychological numbers.
The volume is really picking up now as on the tail 6.12k contracts had been traded.
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Bitcoin Daily Chart
The chart is still looking bearish on the daily timeframe.
The chart does highlight the rejection of the previous low.
The 7,810.10 level could be the target on the higher timeframe as its the previous wave high.
The 7,296.44 level is also a resistace level to look out for as it was used as a suport zone in the past and previous support can become resistance.
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Additional Levels
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