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There was a spike below the $6,580 support and the price settled below the 100 hourly simple moving average. On the downside, there is a bullish trend line with support at $6,560 on the hourly chart of the BTC/USD pair. If the pair breaks the trend line and $6,550, there is a risk of more slides. An initial support is around the 76.4% Fib retracement level of the last leg from the $6,445 low to $6,840 swing high at $6,540. Below this, the price may perhaps accelerate declines towards $6,500 and $6,450. On the upside, the $6,650 and the 100 hourly SMA are initial barriers.

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