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Bitcoin Technical Analysis: BTC/USD enjoyed an extended breakout to the upside from a bull flag, $8000 in sights

Bitcoin price seen up a healthily over 4% on Monday, as it extends recent run.
BTC/USD broke out to the upside from a bull flag pattern, that was initially containing the north momentum.
In just over a week now, Bitcoin has gained over 25%.

Ken Chigbo Independent Analyst

BTC/USD 60-minute chart

Spot rate: 7701.0

Relative change: +4.09%

High: 7820.0

Low: 7374.0

Trend: Bullish

Support 1: 7655.0, (support on 60-minute chart).

Support 2: 7534.2, On top of bull flag pattern.

Support 3: 7499.8, 50MA.

Resistance 1: 7751.8, (resistance on 60-minute chart).

Resistance 2: 7820.0, today's (Monday) high.

Resistance 3: 8000.0, psychological resistance.

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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