Bitcoin Technical Analysis: BTC/USD big bull run continues, as price charges ahead, with buying returning to the market, jumping 6%


  • Bitcoin price has run riot on Tuesday, gaining as much as 6% in the early part of the session. 
  • BTC/USD extending its move to the north, following the breakout on Monday from a bull flag pattern. 
  • Next major area of interest will be seen around the $9500 territory, last traded here in May.

 

 

BTC/USD 4-hour chart

 

Spot rate:                   8230.0

Relative change:        +6.71%

High:                          8238.2

Low:                         7690.0

 

Trend:                        Bullish.

 

Resistance 1:            8278.0, consolidation area 18th May. 

Resistance 2:            8360.9, (resistance on 4-hour chart), consolidation area 17th May,

Resistance 3:            8473.4, 17th & 19th May high.

Support 1:                 7751.1, 7th June high and supply area. 

Support 2:                 7544.0, on top of broken bull flag pattern.

Support 3:                 7360.4, 50MA and demand area.

 

 

 

 

 

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