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  • Bitcoin price on Thursday in the latter part of the session is trading up some 2%.
  • BTC/USD is breaking out of a bearish pennant structure, killing off the technical set up for a push lower.
  • The price appears to be just one barrier away from $11,000 price return. Near-term 60-minute supply at $10,500 mark.


Spot rate:                  10,293.00

Relative change:       +2,10%

High:                          10,342.10

Low:                           9881.11

BTC/USD 60-minute chart

  • Heavy near-term supply at $10,500, the last major barrier ahead of $11,000.  

BTC/USD daily chart

  • There is room for the bulls to capitalise given the breakout from a bearish technical structure, pennant.