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Bitcoin Price Analysis: BTC/USD pushing for big bull flag breakout

  • Bitcoin price is trading in positive territory, up 2.95% in the second half of the session. 
  • BTC/USD price action has been stuck within consolidation mode for going on eight sessions. 
  • The key for greater upside will be for a break down of the $9500 price barrier.
Bitcoin Price Analysis: BTC/USD pushing for big bull flag breakout
Ken ChigboKen ChigboIndependent Analyst

BTC/USD daily chart

The price is having some difficulty with breaking down the high area in November 2019, as noted above, 9200 - 9500 price range. 

                     

BTC/USD 60-minute chart

Price action has been narrowing within a range block formation via the 60-minute chart view. 

Spot rate:                9428.50

Relative change:     +2.90%

High:                        9271.40

Low:                         9150.00

BTC/USD

Overview
Today last price9414.57
Today Daily Change252.31
Today Daily Change %2.75
Today daily open9162.26
 
Trends
Daily SMA208925.47
Daily SMA508094.85
Daily SMA1008086.55
Daily SMA2008887.38
 
Levels
Previous Daily High9305.61
Previous Daily Low9078.29
Previous Weekly High9568.13
Previous Weekly Low8279.73
Previous Monthly High9568.13
Previous Monthly Low6856.63
Daily Fibonacci 38.2%9165.13
Daily Fibonacci 61.8%9218.77
Daily Pivot Point S19058.5
Daily Pivot Point S28954.74
Daily Pivot Point S38831.19
Daily Pivot Point R19285.81
Daily Pivot Point R29409.37
Daily Pivot Point R39513.13

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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