There have been some nasty shocks moving above $ 6,100 in Bitcoin prices versus the USD. The BTC / USD fell sharply below the $ 6,200 support level and tested the support at $ 6,100. Low prices formed at $ 6,104 and then higher prices. Two large candles were formed above $ 6,400. Prices rose to $ 6,580 and highs were formed at $ 6,573.
Throughout the road, there was a break above the two downtrend lines with resistance at $ 6,320 on the BTC / USD hourly chart. Then, the adjusted price was lower than $ 6,500. It even adjusted below the Fibonacci retracement of 23.6% for the last rally from $ 6,104 to a low of $ 6,573. Currently, prices are trading close to the support threshold of $ 6,400 and the 100-simple moving average. Below this level, the next support is near $ 6,338. It represented a 50% Fib retracement of the final rally from $ 6,104 to a low of $ 6,573. Moreover, the trend lines that broke near $ 6,320 are also likely to play a supporting role.
Topic: Bitcoin price analysis (Read 115 times)
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