BTCUSD Technical Analysis: Bitcoin on the rise towards $6,800

Bitcoin on the rise, marking in higher lows through the week.
Current retracement could continue bounce into new highs next week.
BTC/USD will need to make a decisive break of the 6800.0 key barrier to extend a bull run.

Joshua Gibson FXStreet

BTC/USD Chart, 1-Hour

Spot rate:	6535.8
Relative change:	-0.82%
High:	6704.7
Low:	6423.4

Trend:	Bullish

Support 1:	6416.0 (July 4th swing low)
Support 2:	6271.2 (S2 daily pivot)
Support 3:	6163.9 (61.8% Fibo retracement level)

Resistance 1:	6683.5 (R1 daily pivot)
Resistance 2:	6784.9 (current week high)
Resistance 3:	6964.2 (R3 daily pivot)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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