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.

Joshua Gibson FXStreet

BTC/USD Chart, 1-Hour

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)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.

Ethereum: Trend Research capitulates, BitMine's Thomas Lee sees a V-shaped recovery

Ethereum had one of its sharpest historic declines over the past 10 days, shedding 40% of its value and briefly sliding below $2,000. The dip also saw ETH move below its realized price, or the average cost basis of investors — an occurrence that has historically accelerated selling pressure as investors cut losses.

Why Bitcoin and top cryptos are falling: Bitwise

The crypto market crash since October isn't down to a single factor but a combination of several, according to Bitwise CIO Matt Hougan. In a note to investors on Friday, Hougan outlined six key factors that potentially contributed to the crash that pushed down nearly every top crypto by more than 50% from prices seen over four months ago.

XRP recovery gains momentum despite retail market decline

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: The worst may be behind us

Bitcoin (BTC) price recovers slightly, trading at $65,000 at the time of writing on Friday, after reaching a low of $60,000 during the early Asian trading session. The Crypto King remained under pressure so far this week, posting three consecutive weeks of losses exceeding 30%.