BTC/USD is trading 0.55% higher as the crypto market consolidates. There is now a chart pattern emerging on the hourly chart. BTC/USD 1-hour chart Bitcoin has now consolidated above the 5K level after a bounce off recent lows. This is typical after any massive fall and traders must be careful that this move higher could be a dead cat bounce. If this is the case the base low is now the key support zone on the chart and must be watched. On the higher timeframes the BTC/USD pair is still in a strong downtrend so buyers need to be careful. Looking closer at the chart now, a triangle formation has now been established. Soon price will either breakout or meet the apex. A break in either direction could indicate the price may hit the red target zones. On the topside, 6K is the resistance zone and on the downside 3,858.00 is the support. Additional 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 ECB governing council is said to hold an emergency call on virus response FX Street 2 years BTC/USD is trading 0.55% higher as the crypto market consolidates. There is now a chart pattern emerging on the hourly chart. BTC/USD 1-hour chart Bitcoin has now consolidated above the 5K level after a bounce off recent lows. This is typical after any massive fall and traders must be careful that this move higher could be a dead cat bounce. If this is the case the base low is now the key support zone on the chart and must be watched. On the higher timeframes the BTC/USD pair is still in a strong downtrend so buyers need to be careful.… 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.
