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  • Bitcoin price is trading in the green, down marginally by some 5.50% in the second half of the session. 
  • BTC/USD bulls regather some upside momentum, after briefly breaching the $7000 territory. 
  • Price action is moving within a narrowing pennant structure, subject to a potential breakout south.

 

BTC/USD 60-minute chart

The chunky area of supply can be observed in the run-up to the $7500 price barrier. 

BTC/USD daily chart

Bulls are making an attempt to break above a bearish pennant structure, the upper acting barrier is seen at $7500. 

 

Spot rate:                  7150.86

Relative change:      -0.65%

High:                         7362.28

Low:                          6856.63