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Bitcoin technical analysis: BTC/USD large vulnerabilities with price trading under $10,000

  • Bitcoin price in the session on Thursday is trading with losses of some 1.20%.
  • BTC/USD buyers critically defended the $10,000 mark, after the large scare on Thursday.
  • The breakout of the long-running triangular structure is going to be very trend defining for the Bitcoin. 
Bitcoin technical analysis: BTC/USD large vulnerabilities with price trading under $10,000
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  10,138.19

Relative change:      -1.30%

High:                         10,309.18

Low:                          10,123.90

BTC/USD daily chart

  • BTC/USD is flirting with a critical ascending trend line, which makes up the long-serving narrowing triangular structure, which has been containing the price. 

BTC/USD 60-minute chart

  • Near-term price action via the 60-minute has formed a bullish flag, subject to breakout. 

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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