Ken Chigbo
Independent Analyst
- Bitcoin price dropped in early trading on Friday, as it continues to fail at breaking down $6500-6600 area.
- BTC/USD has within recent trading broken a near-term supporting channel pattern.
- $6000 mark still appears to be at threat of a test from the controlling bears.
BTC/USD 60-minute chart
Spot rate: 6478.5
Relative change: --2.30%
High: 6659.0
Low: 6450.0
Trend: Bearish
Support 1: 6455.0, 23.6% Fibonacci & 50MA.
Support 2: 6325.7, 14th June low.
Support 3: 6100, (support on 60-minute chart) & 13th June low.
Resistance 1: 6595.9, 100MA.
Resistance 2: 6677.5, 38.2% Fibonacci.
Resistance 3: 6815.0, upper trend line of channel.
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