Bitcoin technical analysis: BTC/USD bulls are approaching the biggest test in a while

• Bitcoin price in the session on Thursday is trading with losses of some 0.45%.
• BTC/USD price action is moving within a narrowing triangular structure, moving closer towards a breakout.  
• The bulls must break down supply running from $10,500-11,000 range.  

Spot rate:                                    

Relative change:       +0.50%

High:                         10,663.35

Low:                           10,459.78a

BTC/USD daily chart

• Price action is narrowing within a large triangular structure, subject to a breakout.  

BTC/USD 60-minute chart

•  Near-term price action is moving within a bullish pennant structure via the 60-minute.