Bitcoin Technical Analysis: BTC/USD battling for big upside but has to smash through $4000 territory

  • Bitcoin price on Wednesday trading up with gains of some 2.15% in the latter part of the session.
  • BTC/USD price action via the daily remains supported by a vital ascending trend line.
  • Bulls managed to extend to the upside breaking out from a descending channel formation. 
 
Spot rate:                 4002.15

Relative change:      +2.15%

High:                        4033.13

Low:                         3914.56

 

Trend:                       Bullish 

 

 
BTC/USD 60-minute chart
  • Near-term price action moving within a bullish flag pattern formation, subject to a breakout. 

 

BTC/USD daily chart

  • Daily price action continues to be supported by vital ascending trend line. 

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