BTC remains in a range-bound market

Dominant bias for Bitcoin (BTC) –Ranging

Resistance Levels- $6800, $6900, $7000

Support Level-$6000, $5900. $5800

 

BTC remains in a range-bound market. The strong bearish pressure within the range was dominant as BTC witness drawdown.

Despite a bullish 4-hour opening at $6735.6 on 18th October that led to the high of the day at $6779.9, the bear takeover was confirmed by the next bearish candle. BTCUSD was down to $6609.3 in the support area.

Though $6607 was the low BTCUSD made on 17th October with the current strong bearish pressure, a lower low may be attained at the end of trading session.