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Bitcoin Price Analysis: BTC/USD breaks 10K once again but will it take out this chart pattern

  • Bitcoin has broken 10K once again as the bulls take charge again.
  • There is a 30 min triangle chart pattern that could break at the same time.
Bitcoin Price Analysis: BTC/USD breaks 10K once again but will it take out this chart pattern
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

BTC/USD 30-min chart

The bulls are not giving up as 10K has been tested again!

There is a triangle chart pattern on the 30-minute chat below. It seems if there is a sustained break above the psychological level then surely the chart pattern will break too. There is lots of bullish signals on the Bitcoin charts at the moment. The price is above the 55 and 200 moving averages. At this point in time, the RSI is not in an oversold position like it was the first time the bulls took out 10K. 

In terms of resistance zones, the 10522.51 level is next up on the daily chart. Beyond that, the 11k and 12k zones both look pretty strong. 

Bitcoin 10K break

Additional levels

BTC/USD

Overview
Today last price10000.5
Today Daily Change-2.24
Today Daily Change %-0.02
Today daily open10002.74
 
Trends
Daily SMA208112.11
Daily SMA507258.84
Daily SMA1008012.04
Daily SMA2007999.5
 
Levels
Previous Daily High10074.48
Previous Daily Low9032.48
Previous Weekly High9476.83
Previous Weekly Low7491.5
Previous Monthly High9476.83
Previous Monthly Low6156.67
Daily Fibonacci 38.2%9676.44
Daily Fibonacci 61.8%9430.53
Daily Pivot Point S19331.98
Daily Pivot Point S28661.23
Daily Pivot Point S38289.98
Daily Pivot Point R110373.99
Daily Pivot Point R210745.24
Daily Pivot Point R311415.99

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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