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Bitcoin technical analysis: BTC/USD extends further away from potential danger

  • Bitcoin price on Friday in the second half of the day is up some 0.30%.
  • BTC/USD bulls extend further north away from bearish pennant set up danger. 
  • There appears to be just one major barrier in the way of an $11,000 return, seen at $10,500. 
Bitcoin technical analysis: BTC/USD extends further away from potential danger
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 10,431.10

Relative change:      +0.35%

High:                         10,669.03

Low:                          10,325.95

BTC/USD 60-minute chart

  • Supply is observed through the $10,500 region, the last major barrier ahead of a $11,000 return.

BTC/USD daily chart

  • The bulls are extending north following the escape from a bearish pennant set up.  

 charts to follow. 

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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