Bitcoin Price Analysis: BTC/USD must hold above $8500 for the big $10,000 return


  • 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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