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Yesterday, there was a sharp decline in bitcoin price below $5,900 due to the Binance exchange security breach. The BTC price declined below the $5,800 level and the 100 hourly simple moving average. However, the $5,660 level acted as a strong support, resulting in a fresh rise. The price started a strong rise and broke the $5,900 and $5,950 resistance levels. There was even a close above the $5,950 level and the 100 hourly SMA. During the rise, there was a break above a connecting trend line with resistance at $6,005 on the hourly chart. The pair climbed above the $6,050 level and traded to a new 2019 high above $6,080.  A swing high was formed at $6,096 and the price is currently consolidating gains. An initial support is near $6,020, the broken trend line, and the 23.6% Fib retracement level of the last wave from the $5,810 low to $6,096 high. If there is a break below $6,020 and $6,000, the price may test the $5,950 support zone. It represents a strong support and coincides with the 50% Fib retracement level of the last wave from the $5,810 low to $6,096 high. If there is a downside extension, the next support is at $5,920. There is also a connecting bullish trend line on the same chart with support near $5,880. Therefore, the price remains well supported on the downside near $6,020, $6,000 and $5,950. On the upside, there are many hurdles for the bulls near $6,100 and $6,200. Repost from @bitcoin.daily #Bitcoin #bitcoinnews #bitcoinprice #cryptocurrency#bitcoins #bitcoinexchange #millionairelifestyle#millionaire #millionairemindset #millionairementor#money #investor #investing #investment#investments #financialfreedom #bitcointrading#bitcoindaily #bitcointips #cryptotrading #bitcoin #ethereum #crypto

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