Ken Chigbo
Independent Analyst
- Bitcoin price on Monday is trading up in very minor positive territory, small gains of just some 0.10%.
- BTC/USD bulls are gradually trying to breakdown a difficult area of supply $5200-500 range.
- Should the bulls manage to breakdown the noted supply zone, a clean return to $6000 could be seen very quickly.
Spot rate: 77.08
Relative change: -0.40%
High: 78.22
Low: 75.54
BTC/USD 60-minute chart
- 60-minute chart view sees the price moving within a near-term ascending wedge pattern formation.
BTC/USD daily chart
- BTC/USD are moving slowly within a chunky area of supply, $5200-500, proving not to be an easy task, but gradually being worked on by the bulls as can be seen.
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