Bitcoin Technical Analysis: BTC/USD bulls trying to jump given claustrophobic channel trading

  • Bitcoin price sees minor jump through the mid-point of Tuesday, pushing into positive territory, with gains of 1%.
  • BTC/USD stuck within the range of the channel, yet to be any clear signs of an imminent breakout. 
  • Market bears have been consistently selling any rallies seen for Bitcoin.




BTC/USD 60-minute chart 


Spot rate:                   6325.3

Relative change:       +1.15%

High:                          6362.3

Low:                           6228.1


Trend:                        Bullish


Resistance 1:            6383.0, 50MA (60-minute).

Resistance 2:            6443.8, 100MA (60-minute).

Resistance 3:            6525.0, entrance to supply zone.

Support 1:                  6240.0, support on 60-minute chart.

Support  2:                 6200.5, demand area. 

Support  3:                 6118.8, 8th September low.


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