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Bitcoin Technical Analysis: BTC/USD bulls are awake again and Fundstrats's Tom Lee remains bullish

Bitcoin price was seen up 0.7% on Wednesday, as the bulls appear to have woken after a long quiet period.
BTC/USD storms higher, but capped by supply heading into the $6500 territory.
Near-term ascending trend line seen on the 60-minute, caught the price after it surged higher than saw a pullback.
Fundstrat's Tom Lee remains bullish on Bitcoin, still believes it could be up within $20K territory by end of the year.

Ken Chigbo Independent Analyst

BTC/USD 60-minute chart

Spot rate: 6430.1

Relative change: +0.71%

High: 6464.9

Low: 6391.9

Trend: Bullish

Support 1: 6422.0, ascending trend line.

Support 2: 6406.9, support on 60-minute.

Support 3: 6355.5, demand zone.

Resistance 1: 6435.0, resistance on 60-minute.

Resistance 2: 6450-60, supply area.

Resistance 3: 6500-600, chunky near-term supply zone.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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