Bitcoin Price Analysis: BTC/USD set for another test of $9000

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  • Bitcoin price is trading in the green, up some 0.45% in the second half of the session. 
  • BTC/USD moving within consolidation mode following the strong push north in the session on Tuesday.
  • The price is on course for a critical weekly closure above a bullish flag structure. 

BTC/USD weekly chart

The bulls are enjoying a five-consecutive week run higher, most straight closures in green since March 2019, as the bulls regather strong momentum. 

BTC/USD daily chart

Price action via the daily chart is maintaining decent heights following a strong bullish pennant breakout on Tuesday. 


 

Spot rate:                  8857.90

Relative change:      +0.45%

High:                         8899.59

Low:                          8555.17

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