Bitcoin Technical Analysis: BTC/USD big rejection and shooting star sees short lived recovery

  • Bitcoin price drops on Friday, losing the upside momentum that was behind the bulls on Wednesday and Thursday. 
  • BTC/USD sees shooting star, after rejection within big supply area of $6550-600.



BTC/USD 60-minute chart 


Spot rate:                  6475.5

Relative change:       -0.20%

High:                          6596.5

Low:                           6355.2


Trend:                        Bearish/Neutral


Support 1:                  6430.0,50MA.

Support  2:                 6375.5, lower part of ascending channel 100MA.

Support  3:                 6200.0, support on 60-minute chart.

Resistance 1:            6550-600, supply zone.

Resistance 2:            6591.5, upper part of channel.

Resistance 3:            6596.5, wick on shooting star & session (Friday high).



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