BTCUSD PROBING DOWNSIDE SUPPORT
Bitcoin is starting to probe towards short-term technical support after buyers failed to make gains above the $6,400 level. The world’s number one cryptocurrency by market capitalization has been in an extended period of price consolidation since October 15th. Intraday BTCUSD sellers will attempt to break the $6,320 level, while buyers will try to move price above the current weekly high.
The BTCUSD pair is only bearish while trading below the $6,320 level, key support remains at the $6,220 and $6,050 levels.
If the BTCUSD pair trades above the $6,450 level, buyers are likely to test towards the $6,550 and $6,700 resistance levels.
The BTCUSD pair is only bearish while trading below the $6,320 level, key support remains at the $6,220 and $6,050 levels.
If the BTCUSD pair trades above the $6,450 level, buyers are likely to test towards the $6,550 and $6,700 resistance levels.
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