Bitcoin price is in a bullish zone above $9,000 but the symmetrical triangle dilemma still hovers. BTC/USD rising triangle hints that a reversal towards $8,600 and $8,400 is around the corner especially id $10,000 remains at bay. Spot rate: $9,015 Relative change: 141 Percentage change: 1.8% Trend: Strongly bullish Volatility: High BTC/USD weekly chart Bitcoin is trading above a long term ascending trendline despite the retreats experience first in June 2019 and in February 2020. The price is trading at $9,019 and supported on the downside by the 50 SMA in the weekly range. On the upside, $10,000 remains the coveted zone while a symmetrical triangle resistance makes the ultimate resistance. If the buyers are able to break above the triangle, a rally is likely to erupt on the accounts of increased volume, pulling Bitcoin towards the key resistance at $14,000. On the contrary, broken symmetrical triangle support could be the end of the bulls, resulting in devastating losses to levels close to $4,000. The dilemma of symmetrical triangles require that traders and investors confirm a breakout before going all in. BTC/USD 4-hour chart Bitcoin price bulls need to reclaim the support above $9,000 to strongly cement their position on the market. If the rising triangle resistance defeats their effort, there is a chance that BTC/USD could make a return trip to test $8,600 and $8,400 support levels. 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 GBP/USD: Buyers aim for 1.2900 with eyes on BOE Governor Mark Carney Speech FX Street 2 years Bitcoin price is in a bullish zone above $9,000 but the symmetrical triangle dilemma still hovers. BTC/USD rising triangle hints that a reversal towards $8,600 and $8,400 is around the corner especially id $10,000 remains at bay. Spot rate: $9,015 Relative change: 141 Percentage change: 1.8% Trend: Strongly bullish Volatility: High BTC/USD weekly chart Bitcoin is trading above a long term ascending trendline despite the retreats experience first in June 2019 and in February 2020. The price is trading at $9,019 and supported on the downside by the 50 SMA in the weekly range. On the upside, $10,000 remains the coveted… 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.
