BTC/USD technical analysis: Bitcoin moves to the top of a bull flag formation
|- Bitcoin moves above breakeven for the first time today.
- The technical bull flag pattern looks vulnerable to an upside break.
After the break higher yesterday Bitcoin has consolidated into a bull flag formation.
The technical pattern now looks susceptible to an upside break.
There is also a relative strength index (RSI) trendline break on the cards that could indicate more upside pressure.
Volume is much lighter than yesterday and if it does not pick up sometimes that is a sign of a false break.
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.