Bitcoin Technical Analysis: BTC/USD bulls eyeing up $5500 again for greater gains
|- Bitcoin price on Thursday is trading in very minor positive territory up some 0.90%.
- BTC/USD bulls are capped to the upside by resistance seen heading into $5500 territory.
- Big defending of the $5000 area can be seen, the new likely bottom, next major resistance for the bulls eyed up at $5500.
Spot rate: 5253.52
Relative change: +0.90%
High: 5298.25
Low: 5221.88
BTC/USD 60-minute chart
- As can be seen via the 60-minute chart view, heavy defending at the $5000 territory, the new likely bottom and chunky resistance heading into $5500 area.
BTC/USD daily chart
- Price action continues to move within a bullish pennant pattern formation, subject to breakout higher.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.