Bitcoin Technical Analysis: BTC/USD shoots towards the stars, having a break ahead of another launch

• Bitcoin seen up a healthy 3% in the early part of the session on Wednesday, crypto market seen generally green across the board.
• BTC/USD jumped over 6% in the early hours of Wednesday, to session highs of $6899, before cooling slightly.
• The price rallied to the highest levels seen since 7th August, to drop back south and find support in a former supply zone, now acting as demand, given the breach. 

BTC/USD 60-minute chart

Spot rate:                   6686.9

Relative change:       +3.17%

High:                          6899.0

Low:                           6438.0

Trend:                        Bullish
 

Resistance 1:            6707.0, (resistance on 60-minute chart.

Resistance 2:            6900.0, today’s (Wednesday) high area final barrier ahead of $7K mark.

Resistance 3:            7150.5,double top area as seen 6-7th August. 

Support 1:                  6600.0, former supply area, now support. 

Support  2:                 6552.0, 19th August high.

Support  3:                 6488.3, 50MA.