Search ForexCrunch
  • Bitcoin is trading up some 0.70% at the time of writing, as the price stabilizes following a slip south in the prior session.  
  • BTC/USD price action via the daily is playing out to a double bottom formation.  

The Bitcoin price on Tuesday is trading in the green by some 0.70%, as the bulls look to regather upside momentum.

Price action via the daily chart view has formed a double bottom, with the support down at $6500. The neckline of the pattern is eyed at $7750, of which the price has not traded above since 21 November.    

Should the bulls force a neckline breach, the move could very well be explosive. A fast return back into $10,000 may be seen, given the little in the way of further barriers until this psychological price mark.


BTC/USD daily chart