RATE Group | BTC/USD Upside Held Near $6500
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BTC/USD Upside Held Near $6500

15 Sep BTC/USD Upside Held Near $6500

Posted at 18:47h in Bitcoin News by

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Bitcoin on Saturday crossed above the $6,500-mark but lacked further upside momentum near the psychological resistance.

The BTC/USD kickstarted the day forming higher lows towards 6475-fiat. The Asian trading session witnessed consolidated action within a narrow range defined by 6520-fiat to the upside and 6477-fiat to the downside. A breakout action appeared only during the early European session when BTC/USD formed higher highs towards 6550-fiat. As the day matured, the pair also gained upside momentum towards 6572-fiat. Since establishing the intraday high, BTC/USD has been correcting towards the 6500-support.

BTC/USD  Technical Analysis

Bitcoin value in medium-term is capped by a descending trendline formation, so a sustainable bullish bias cannot be guaranteed. True, the situations are better on smaller timeframes, in which most of the technical indicators are favoring a strong buying sentiment. But the upside is further capped by a recently broken…

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