Bitcoin technical analysis: BTC/USD price is consolidating outside of bullish flag


  • 2Bitcoin price is trading in positive territory, up some 0.50% in the second half of the session. 
  • BTC/USD price action is within consolidation mode, failing to attract commitment. 
  • The bulls must again breakdown and hold above the $9000 price mark for greater upside. 

 

BTC/USD weekly chart

The price is sitting just on top of a breached weekly flag structure. 

BTC/USD daily chart

Daily price action is also moving within a bullish flag, subject to a potential breakout higher. 

 

Spot rate:                   8,771.49

Relative change:       +0.50%

High:                          8,838.90

Low:                           8,707.85

 

 

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