Bitcoin technical analysis: BTC/USD vulnerabilities remain despite gains
|- Bitcoin price is trading firmly in the green with strong gains of over 4% in the second half of the session on Monday.
- BTC/USD bulls despite the gains in the session, is still moving within a narrowing daily range.
- Vulnerabilities still remain after the price breaking out to the downside last week below an ascending trend line of support.
Spot rate: 7966.51
Relative change: +4.35%
High: 8088.73
Low: 7522.01
BTC/USD 15-minute chart
- Near-term price action is moving within a bullish penannt pattern, subject to further potential upside, as seen via the 15-minute view.
BTC/USD daily chart
- Price action via the daily chart view is narrowing, suggesting an imminent breakout. While the price is below the breached trend line of support, vulnerabilities remain.
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