BTC/USD Technical Analysis: Getting bumped higher, but stepping pattern could gas out

  • Bitcoin continues to bump higher in brief moments of bullish momentum.
  • Upwards momentum is being driven at odd intervals since bottoming at 5755.0 in June.
  • Failure to break above 6850.0, the last major swing high, will see a resurgence of selling interest.

BTC/USD Chart, 1-Hour

Spot rate:  6709.5
Relative change:  0.03%
High:  6723.7
Low:  6689.3
   
Trend:  Bullish
   
Support 1:  6648.0 (S1 daily pivot)
Support 2:  6510.0 (S2 daily pivot)
Support 3:  6414.0 (previous week low)
   
Resistance 1:  6785.0 (R1 daily pivot)
Resistance 2:  6839.4 (previous week high)
Resistance 3:  6918.0 (R3 daily pivot)

 

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