Bitcoin price is trading above the pivotal $6,700, but its trend is strongly bullish. A break above the intraday cap at $6,750 is to pave the way towards the critical $6,800. There are a couple of patterns that can be observed on the Bitcoin chart. The first one is the double top pattern which was explored in an earlier price analysis, while the second and most important is the inverse head-and-shoulders pattern. Spotting these patterns can help make better trading decisions. Trading a double top pattern signals a bearish movement after a continuous uptrend. While Bitcoin price has formed a double top pattern, it is clear that its effect has been minimized by the inverse head-and-shoulders pattern, which sends signals of an upcoming following a downtrend. Bitcoin price jumped over 5% yesterday, supported by the support at $6,400 (former resistance). The recoil pushed above $6,600 and changed hands above $6,700 but the momentum failed to break past $6,750. The price has been pivotal around $6,700 while the intraday cap is stubbornly sitting at $6,750. The trend is still bullish and a break above this level means that $6,800 is in sight and well within reach in the short-term. If the momentum stalls short of the intraday cap, a consolidation above $6,700 will allow the investors to regain strength to retest the area at $6,800 and eventually revisit $7,000. BTC/USD 15-minutes 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 Crypto News share Read Next USD/CAD extends gains and approaches 1.3200 FX Street 5 years Bitcoin price is trading above the pivotal $6,700, but its trend is strongly bullish. A break above the intraday cap at $6,750 is to pave the way towards the critical $6,800. There are a couple of patterns that can be observed on the Bitcoin chart. The first one is the double top pattern which was explored in an earlier price analysis, while the second and most important is the inverse head-and-shoulders pattern. Spotting these patterns can help make better trading decisions. Trading a double top pattern signals a bearish movement after a continuous uptrend. While Bitcoin price has formed a… 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.
