Bitcoin Price Analysis: BTC is On The Verge Of A Bullish Breakout

Resistance levels: $6,609, $6,744, $6,918

Support levels: $6,439, $6,286, $6,145

The BTC broke out from the ranging mode it was last week. The coin is bullish in its medium-term outlook. A bullish pin bar was formed immediately after the consolidation and the bulls gained enough momentum, the price rallied to the north rapidly and broke through resistance levels of $6,609 and $6,744 exposed the resistance level of $6,918.

The bears immediately rejected the uptrend movement by pushing the price below the support level of $6,439 and the coin has been moving gradually upward to break out from the support level.
The 10-day EMA has crossed the 50-day EMA upside; the coin is above 10-day EMA and the 50-day EMA. Should the price break out to the north from this level; there is a probability that it will find its high at the resistance level of $6,609. In case the support level of $6,439 holds the price will experience downtrend.

Nevertheless, the Stochastic Oscillator 14 is above 40 levels with its signal lines pointing to the north which indicates a buy signal.