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Bitcoin breaks above 10k again but it could be a technical test

  • Bitcoin breaks above 10k once again but it could be a trendline test.
  • The broken triangle formation was taken out in the early hours.
Bitcoin breaks above 10k again but it could be a technical test
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

The BTC/USD price has come back on the hourly chart on pretty thin volume but it is still building.

It was a pretty convincing break at 4 am London time last night. 

The value area on the chart stands at 10,299.00 and there is the potential that price could come all the way back there.

The base case scenario is a test of the formation and a move back to lower level.

Bitcoin technicals

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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