Bitcoin Price Analysis: BTC/USD consolidates and the next move could be important
- Bitcoin trades 0.45% higher as crypto sentiment remains high.
- Now the price is holding between 10,522.51 and 10,083.10.
BTC/USD 60-Minute Chart
As you can see from the 60-minute chart below the price has moved into a clean channel.
Now the BTC/USD pair is at a pivotal point stuck between 10,522.51 and 10,083.10.
There has been some support at 10,100 but if that support is broken it will make a lower high lower low.
That could indicate a change in the short term trend to the downside.
A sustained move above 10,500 is what the bulls are looking for and the majority of the volume peaks are still supporting the buy-side.
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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.
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