Bitcoin Technical Analysis: BTC/USD bulls are edging closer to a large potential breakthrough
|- Bitcoin price on Tuesday is trading in positive territory up some 1.80% in the second half of the day.
- BTC/USD bulls are attempting to break above the near-term resistance and supply of $5300-50, the top area of the past few sessions.
- Bulls will then be eying the $5500 area, before a return up to $6000.
Spot rate: 5267.62
Relative change: +1.90%
High: 5288.11
Low: 5164.25
BTC/USD 60-minute chart
- Price action is moving within a narrowing range formation, subject to an imminent breakout.
BTC/USD daily chart
- Bulls are in the process of breaking down the top area over the past few days seen around $5200-5350 range.
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