Bitcoin technical analysis: BTC/USD bulls are making a big step towards breakout

September 6, 2019 Off By admin-445
  • 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. 

 

Spot rate:                  

Relative change:      +0.50%

High:                         10,910.58

Low:                          10,564.61

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. 

 

Source: www.forexcrunch.com