BTCDUSD: Consolidates With Upside Bias!
As long as 6322 support holds on a daily closing basis, the BTCUSD remains on the upside to the 6740 levels ahead of the 6950 levels, a halt is likely, but a break would open 7170 levels, further upside, resistance comes at the 7430 levels.
On the downside, support comes at the 6322 levels, a daily closing below that level should weaken recent rise and reverse risk to the downside to the 6028 levels where a cut will aim the 5545 levels.
Conclusion: The BTCUSD sees upside threats above the 6322 levels with caution…
Support: 6322, 6028, 5545
Resistance: 6740, 6950, 7170
1- A daily closing above 6950 will bring a strong bullish momentum.
2- A daily closing below the 6322 levels will activate the bearish divergence and suggest a lower leg below 6067 levels.
3- Minor resistance comes at the 6492 levels, a daily closing above 6492 will pave the way to the 6740 levels.
4- The BTCUSD is likely to consolidate within 6322/6740 range before attempts to break higher…