Bitcoin technical analysis: BTC/USD bulls are making a big step towards breakout
- Bitcoin price in the session on Friday is trading with gains of some 3.05%.
- The price has been on a decent recovery, after bottoming out late August down at $9500.
- BTC/USD price action is moving within a narrowing triangular structure, moving closer towards a breakout.
- The bulls must break down supply running from $10,500-11,000 range.
Relative change: +0.50%
BTC/USD daily chart
- Price action is narrowing within a large triangular structure, subject to a breakout.
BTC/USD 60-minute chart
- Near-term price action has smashed out from a bullish pennant structure, inviting another wave of buying.