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BTC/USD price falters within heavy supply zone, at the highs on Thursday of $7600, pullback eyed to $7400

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  • Bitcoin regathers some faster paced momentum, as it looks to break down resistance barrier just ahead.
  • BTC/USD price actions has been moving within an ascending wedge pattern, over the past two sessions.
  • A chunky supply zone can be seen within the very early $7600 region, which has been causing problems since 24th May.

 

BTC/USD 30-minute chart

 

Spot rate:                    7530

Relative change:         +2.00%

High:                            7600

Low:                            7340

 

Trend:                          Bullish

 

 

Resistance 1:              7600, chunky supply zone.

Resistance 2:              7730, 24th May high.

Resistance 3:              7933, 23rd May high, before price dumped 6%.

Support 1:                   7430, 50MA.

Support 3:                   7340, 200MA.

 

 

 

 

 

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