Bitcoin price is struggling to clear the $6,500 barrier against the US Dollar. BTC/USD could extend slides if it fails to move above $6,380 and $6,500.
This past week, we saw a major downside move below $6,500 in bitcoin price against the US Dollar. The BTC/USD pair traded as low as $6,070 and later started an upward move. It corrected above the $6,200 and $6,300 resistance levels. However, the upside move was capped by the $6,440 level and the 100 hourly simple moving average. Moreover, the price failed to settle above the 23.6% Fib retracement level of the last significant drop from the $7,391 high to $6,070 low.