Ken Chigbo
Independent Analyst
- Bitcoin price is trading in the green, up some 5.30% in the second half of the session.
- BTC/USD near-term price action is narrowing ahead of further moves higher.
- A bullish pennant is being observed following the strong break of the $8000 mark.
BTC/USD daily chart
The bulls are attempting to break down supply within the $8500, ahead of further moves to the upside.
BTC/USD 60-minute chart
Price action via the 60-minute chart view is moving within a bullish pennant structure, subject to a potential breakout north.
Spot rate: 8550.15
Relative change: 5.50%
High: 8587.33
Low: 8105.16
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