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  • Bulls managed to force to price out form a bullish flag pattern structure, with room for further upside.
  • The next major area to breakdown is $6500-800 range, for a return back up to $7000.

 

Bitcoin price in the latter stages of trading on Tuesday evening gains seen just shy of 3%, once again outperforming much of its peers. BTC/USD has been on a strong run throughout this year so far, after struggling in 2018.

An additional wave of upside momentum was recently seen, thanks to a breakout and retest on the daily of a bullish flag pattern formation. The technical move playing out to the textbook, to allow bulls to capitalize.

In terms of upside targets, the next major region for BTC/USD is up in the heights of $6500-800, a breakdown of this supply could facilitate a quick return to $7000. There is a growing disconnect at present with Bitcoin and its peers.

BTC/USD daily chart