Ken Chigbo
Independent Analyst
- Bitcoin price is trading with gains of around 1.90% towards the latter stages of the session on Friday.
- BTC/USD bulls have used the new bottom area seen at $7500, to spring back towards $8000 territory.
- Next major target area to breakdown is $8800-900 range, where the price topped between 26th May - 3rd June.
Spot rate: 7954.34
Relative change: +1.90%
High: 8039.19
Low: 7761.80
BTC/USD 60-minute chart
- Price action moving within a bearish pennant pattern, subject to a breakout via the 60-minute.
BTC/USD daily chart
- Price action via the daily is resting a prior acting ascending trend line of support, proving to be new resistance.
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