Bitcoin Technical Analysis: BTC/USD critical trend line broken and heading for a retest
|- Bitcoin price on Wednesday in the second part of the session is holding gains of some 1.25%.
- BTC/USD price action has broken out from a key daily ascending trend line and is heading for a retest.
- Should the price retest and fail to break back above, sellers could pile in.
Spot rate: 7778.94
Relative change: +1.25%
High: 7890.01
Low: 7670.58
BTC/USD 60-minute chart
- Near-term price action has smashed out to the downside from a supporting ascending trend line, inviting a wave of selling pressure.
BTC/USD daily chart
- The daily has breached a longer running trend line of support, eyes are on the retest underneath.
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