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.
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.
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Additional levels
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.
