- Bitcoin price nursing deep losses of over 6% in the session on Tuesday.
- BTC/USD moving within fast channel to the deep south, as covered in yesterday's article.
- Price manages to catch some relief on the lower supporting trend line of the channel.
BTC/USD 60-minute chart
Spot rate: 4407.77
Relative change: -6.00%
Support 1: 4426.88, daily pivot point support.
Support 2: 4310.02, lower support of channel.
Support 3: 3550.70, daily pivot point support.
Resistance 1: 4500.00, 60-minute resistance.
Resistance 2: 4585.00, upper part of channel.
Resistance 3: 5303.50, daily pivot point support.
BTC/USD weekly chart
- Weekly chart view for BTC/USD looks worryingsome for the bulls, next major level eyed would be $3000.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.