Bitcoin technical analysis: BTC/USD explosive breakout is awaited out from narrowing conditions
|- Bitcoin price is trading in positive territory, up some 0.40% in the second half of the session.
- BTC/USD price action continues to narrow within a pennant structure, subject to a breakout.
- Trading conditions remain extremely narrow across the board, a breakout is looming.
BTC/USD weekly chart
The price has been pushing to the north for going on three weeks, although a lack of momentum within the last two.
BTC/USD daily chart
BTC/USD price action via the daily chart has done little in terms of movement since 27 October.
Spot rate: 9,359.24
Relative change: +0.40%
High: 9,447.93
Low: 9,278.73
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