Bitcoin remains in consolidation mode alongside the broader cryptocurrency market on Friday, with the BTC/USD pair settling back into a trading range between the $6,220 and $6,550 levels. An inverted head and shoulders pattern is now visible across the lower time frames, with an upside projection of around $700.00. However, buying volumes remain weak, and the $6,550 level is still proving to be a strong technical barrier in the short-term.
The BTCUSD pair is bearish while trading below the $6,550 level, key technical support below is located at the $6,220 and $6,050 levels.
If the BTCUSD pair moves above the $6,550 level, buyers will likely target the $6,800 and $7,150 resistance levels.
The BTCUSD pair is bearish while trading below the $6,550 level, key technical support below is located at the $6,220 and $6,050 levels.
If the BTCUSD pair moves above the $6,550 level, buyers will likely target the $6,800 and $7,150 resistance levels.
