Bitcoin Price Weekly Analysis: BTC/USD Rebound Faces Significant Hurdle

Key Components

  • Bitcoin price recovered simply currently and examined the $6,375 resistance area in opposition to the US Dollar.
  • There’s an important bearish sample line in place with resistance at $6,400 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
  • The pair ought to break the $6,365, $6,375 and $6,400 resistance ranges to commerce bigger inside the near time interval.

Bitcoin price continues to be above the $6,250 assist in opposition to the US Dollar. Nonetheless, BTC/USD goes by means of an essential resistance near the $6,375-6,400 area.

Bitcoin Price Analysis

This earlier week, there was a draw again extension beneath the $6,300 assist in bitcoin price in opposition to the US Dollar. The BTC/USD pair traded shut the $6,200 assist the place patrons emerged. Due to this, the value started an sincere restoration and moved above the $6,250 and $6,300 resistance ranges. The upside switch was optimistic as there was a break above the $6,340 stage as…

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