RATE Group | Newsflash: Bitcoin Price – Bullish Territory Before a Sharp Return Near $6,400
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Newsflash: Bitcoin Price – Bullish Territory Before a Sharp Return Near $6,400

23 Aug Newsflash: Bitcoin Price – Bullish Territory Before a Sharp Return Near $6,400

Posted at 03:04h in Bitcoin News by

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Bitcoin price

At last, Bitcoin price stopped taking strikes from its crucial resistance level near $6,500 and went for a home run, instead.

Then, the referee called it a foul. In simple words, Bitcoin crashed towards the same consolidation range that was holding it before the upside breakout.

The BTC/USD on Wednesday attempted a strong upside breakout, rising as much as 7.8 percent and coming out of an overlong consolidation phase. The pair started began the day on a bearish note and slipped towards 6440-fiat. It, however, began to express a massive bullish sentiment during the early Asian trading session and jumped from 6441-fiat to 6899-fiat within an hour. The pair then slipped further owing to a considerably large long positions getting executed. The correction accelerated during the European session and formed lower lows towards 6610-fiat. And now, at the beginning of the US session, the price has almost negated its gains following a massive dump.

BTC/USD Technical Analysis

BTC/USD…

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