Bitcoin grinds sideways in a narrow range between $8,500 and $8,600. The previous trend is expected to continue towards $9,000 on BTC’s reaction to the flag pattern formed. Bitcoin price hovers above $8,500. This follows the extension of a lower leg from highs marginally above $8,700. The price action from levels roughly at $8,200 made a phenomenal recovery above several key barriers including $8,400 and $8,600. BTC/USD is trading at $8,547 and displays an intraday loss of 0.45% as well as a relative change of -38. The prevailing trend is bearish with expanding volatility. The granddaddy of cryptocurrencies currently consolidates in a bullish flag pattern. A breakout out from this pattern is supposed to continue in the direction of the previous trend. In this case, I expect Bitcoin to rise above $8,750 resistance and grind towards $9,000. Meanwhile, $8,500 is coming out as a key support area. If it fails to hold, $8,400 and the 100 Simple Moving Average (SMA) on the four-hour chart at $8,250 will provide the much-needed support. Besides, further dips under $8,000 are not expected to go beyond $7,700 (major support area). BTC/USD four-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Forex News Today: Daily Trading News share Read Next NZD/USD consolidates in a range near weekly tops, comfortable above 0.6300 handle FX Street 3 years Bitcoin grinds sideways in a narrow range between $8,500 and $8,600. The previous trend is expected to continue towards $9,000 on BTC's reaction to the flag pattern formed. Bitcoin price hovers above $8,500. This follows the extension of a lower leg from highs marginally above $8,700. The price action from levels roughly at $8,200 made a phenomenal recovery above several key barriers including $8,400 and $8,600. BTC/USD is trading at $8,547 and displays an intraday loss of 0.45% as well as a relative change of -38. The prevailing trend is bearish with expanding volatility. The granddaddy of cryptocurrencies currently consolidates… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
