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Bitcoin Price Analysis: BTC/USD heading for best monthly gain since May 2019

  • Bitcoin price is trading in negative territory, down 2.70% in the second half of the session. 
  • BTC/USD will need to breakdown to the barrier at $9500-600 for greater gains north. 
  • The bulls will be eyeing a return back into the psychological $10,000 once the above-noted barrier is broken. 
Bitcoin Price Analysis: BTC/USD heading for best monthly gain since May 2019
Ken ChigboKen ChigboIndependent Analyst

BTC/USD monthly chart

There is significant monthly resistance noted at $9600, where the price was capped in November 2019. 

BTC/USD weekly chart

Extends further to the north following a bull flag breakout, the price has been moving higher since the back end of December. 

Spot rate:                9239.45

Relative change:     -2.70%

High:                        9523.02

Low:                         9197.12

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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