BTC/USD Trading Near Inflection Point

Bitcoin price surged higher and broke the $6,360 resistance against the US Dollar. BTC/USD spiked above $6,660, but it is still trading near a major inflection point.

Important points

• Bitcoin false spiked above the $6,750 level after Tether declined sharply.
• BTC/USD cleared a major bearish trend line with resistance at $6,360 on the 2-hours chart.
• BTC price must settle above a significant resistance zone near $6,460 (the inflection point).

Bitcoin price analysis

There were heavy upsides noted in bitcoin price above the $6,660 level against the US Dollar. BTC/USDT rocketed higher after a sharp sell-off in Tether, which popped BTC/USD above the $6,750 level.

The 2-hour chart indicates that the price even surpassed the $6,780 level and tested the $6,800 level, where it was rejected. It seems like there was a false break above the $6,660 resistance since the price is back trading near a major resistance zone near $6,460 (the inflection point).