Bitcoin Technical Analysis: BTC/USD still climbing and looking promising, must break down 6500-600 barrier

  • Bitcoin seen holding firm gains of over 3% on Friday, as the recovery path becomes clearer. 
  • BTC/USD moves back through breached ascending trend line, to be supported in its attempt for further upside.
  • Next major barrier to breakdown will be $6500-600, a clearance should invite further buying pressure. 



BTC/USD 60-minute chart


Spot rate:                   6468.4

Relative change:       +2.42%

High:                          6557.9

Low:                           6290.0

Trend:                        Bullish

Resistance 1:            6500-600, chunky supply zone.

Resistance 2:            6627.5, (resistance on 60-chart).

Resistance 3:            6800.0, supply zone, last traded here 7th August.

Support 1:                  6387.6, 50MA.

Support  2:                6344.5, ascending trend line. 

Support  3:                6288.0, 100MA.




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