Bitcoin Technical Analysis: BTC/USD price is saved again just for now, but a bearish flag pattern has formed during recent consolidation mode

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  • Bitcoin price has seen some relief on Tuesday, holding gains of over 2% through the mid-point of the session.
  • BTC/USD managed to receive a boost within the strong touted demand area, tracking from $6800-6900.
  • Next big barrier in the way for the bulls is seen at $7155, 6th August high.

 

BTC/USD 60-minute chart


 

Spot rate:                   7107.0

Relative change:       +2.40%

High:                         7121.9

Low:                          6907.4

Trend:                        Bullish 

 

Resistance 1:            7115.8, 100MA.

Resistance 2:            7155.5, 6th August high.

Resistance 3:            7500.0, (resistance on 60-minute chart).

Support 1:                 7005.1, 50MA.

Support 2:                 6900-6800.0, strong demand zone.

Support 3:                 6670.0, 17th July consolidation area.

 

 

 

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