Bitcoin technical analysis: BTC/USD consolidation mode ahead of big potential $9000 and beyond return
- Bitcoin price in the second part of Thursday is trading with very minor gains of just some 0.7%.
- BTC/USD near-term price action looks subject to further breaks to the north, given current behaviour.
- Near-term price action is moving within a bullish pennant structure, subject to a breakout, seen via the 30-minute view.
Spot rate: 8721.02
Relative change: +0.70%
High: 8773.42
Low: 8563.97
BTC/USD 30-minute chart
- Price action is moving within a bullish pennant pattern formation, subject to a breakout, via the 30-minute view.
BTC/USD daily chart
- Price within consolidation mode following a big breakout earlier in the week from a daily pennant structure.
Author
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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