Bitcoin slipped below $6000 – What’s the next support?

Posted Tuesday, August 14, 2018 by
Arslan Butt • 1 min read

Bitcoin was holding above the psychological support level of $6,000, extending bulls’ hopes that the pullback is still expected. But just now, the BTC/USD has slipped below $6,000 to place a low of $5,858.

BTC/USD - 240 Min Chart

As you can see, the crypto pair is following a strong bearish trend as the 100 periods moving average is supporting the selling bias. Now, the bearish channel on the 4- hour chart is likely to extend support near $5,775. While on the upper side, the BTC can face resistance near $6,140.

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