Bitcoin technical analysis: BTC/USD bulls are making a big step towards breakout

• Bitcoin  price in the session on Friday is trading with gains of some 3.05%.
• The price has been on a decent recovery, after bottoming out late August down at $9500.
• 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:                          10,910.58

Low:                           10,564.61

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 has smashed out from a bullish pennant structure, inviting another wave of buying.