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Bitcoin Technical Analysis: BTC/USD leaps over 5% higher in just an hour, breaking out from flag pattern

Bitcoin price is within recovery mode, following the heavy selling pressure seen the prior to the weekend on Friday.
BTC/USD leaps over 5% in just an hour, after a bull flag patter was seen on the 60-minute time frame.

Ken Chigbo Independent Analyst

BTC/USD 60-minute chart

Spot rate: 6602.7

Relative change: +3.98%

High: 6681.1

Low: 6275.0

Trend: Bullish

Support 1: 6500.0, psychological support.

Support 2: 6340.0, above broken bull flag.

Support 3: 6225.6, lower part of bull flag.

Resistance 1: 6761.50, entrance of supply zone.

Resistance 2: 6828.1, 20th June high.

Resistance 3: 6900.0, (resistance on 60-minute chart).

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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