Bitcoin Price Watch: BTC/USD Upsides Remain Capped

Key Components

  • Bitcoin worth declined underneath the $6,100 stage sooner than recovering significantly in opposition to the US Buck.
  • There’s a important bearish improvement line in place with resistance at $6,360 on the hourly chart of the BTC/USD pair (info feed from Kraken).
  • The pair ought to break the event line resistance and $6,350 to maneuver further higher throughout the near time interval.

Bitcoin worth is struggling to hold options in opposition to the US Buck. BTC/USD would possibly possibly proceed to face hurdles near $6,360 and $6,420.

Bitcoin Price Analysis

Bitcoin worth failed to stay above the $6,280 low in opposition to the US Buck. The BTC/USD pair declined further and broke the $6,120 assist stage. It traded as little as $6,076 sooner than starting an upside correction. There was a superb comeback given that worth moved above the $6,220 stage. It moreover broke the 38.2% Fib retracement stage of the ultimate drop from the $6,400 extreme to…

Learn full story