Bitcoin Price Prediction: BTC/USD bulls fail to stay above $6,725 resistance line as price falls

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  • Earlier this Tuesday, BTC/USD went up from $6,500.70 to $6,768.85.
  • The daily confluence detector shows a lack of healthy support levels on the downside.

BTC/USD daily confluence detector

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BTC/USD bears took the price down from $6,768.85 to $6,675 this Wednesday. This followed a bullish Tuesday wherein the price jumped from $6,500.70 to $6,768.85

The daily confluence detector shows a lack of healthy support levels on the downside. On the upside, there is only one resistance level of note at $6,725, which has the Previous Week high and one-day Pivot Point resistance-one. If the bears are to truly take control, there won’t be any healthy support levels to stop the downward movement.
 



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