Bitcoin Technical Analysis: BTC/USD it appears to just be a matter of time for the bears in turning the pressure up a notch, in the drive south

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  • Bitcoin is seen holding gains of 1.62% in the early part of the week on Monday, but not looking very stable. 
  • BTC/USD is struggling to break down the $6500-600 area, where a supply zone is seen. 

 

 

BTC/USD daily chart


 

Spot rate:                   6448.3

Relative change:       +1.63%

High:                          6548.3

Low:                           6292.7

Trend:                        Bullish 
 

Resistance 1:            6493.7, (resistance on 60-minute chart).

Resistance 2:            6600.0, supply zone. 

Resistance 3:            6624.5, 9th August high.

Support 1:                 6330.8, 100MA. 

Support 2:                 6281.4, 50MA. 

Support 3:                 6125.0, entrance to demand zone. 

 

 

 

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