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Bitcoin Technical Analysis: BTC/USD spikes over 2.5% higher in just under 1 hour

  • Bitcoin price spikes over 2.5% to the upside in the latter stages of Wednesday, jumping from the session low.
  • BTC/USD received decent buying a strong daily support area, around $6200.
  • The low produced on 29th October, proven to be of some firm comfort for BTC/USD today.
Bitcoin Technical Analysis: BTC/USD spikes over 2.5% higher in just under 1 hour
Ken ChigboKen ChigboIndependent Analyst

BTC/USD 60-minute chart 


 

Spot rate:                  6328.3

Relative change:      +0.91%

High:                         6357.2

Low:                          6202.8

Trend:                       Neutral

Support 1:                 6247.1,daily pivot point support & 29 October low.

Support 2:                 6223.3. daily pivot point support.

Support 3:                 6152.9, 15 October low. 

Resistance 1:            6312.7,daily pivot point resistance.

Resistance 2:            6328.7, 50MA. (60-minute).

Resistance 3:            6336.55, daily pivot point resistance. 

Author

Ken Chigbo

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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