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.

Rajan Dhall, MSTA FX 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.

Author

Rajan Dhall, MSTA

FX Daily

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

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