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Bitcoin Technical Analysis: BTC/USD selling pressure is far from over, as bears lock sights on $6000

Bitcoin downside pressure has resumed on Thursday, nursing losses of 0.3%.
BTC/USD is heading for another key demand zone, which is seen just ahead of the $6000 figure.

Ken Chigbo Independent Analyst

BTC/USD daily chart

Spot rate: 6257.3

Relative change: -0.37%

High: 6384.7

Low: 6230.9

Trend: Bearish

Support 1: 6180-6090.0, demand area ahead of big 6000 level.

Support 2: 6000.0, psychological support.

Support 3: 5800.0, (support on daily chart).

Resistance 1: 6405.5, (resistance on daily chart).

Resistance 2: 6650.0, supply zone.

Resistance 3: 6840.0, 7th July high.

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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