Bitcoin Technical Analysis: BTC/USD explosive breakout awaited

FX Street

Updated: 2 Jan. 2020 | 14:27

Bitcoin price is trading in the red, down marginally be some 0.65% in the second half of the session.
BTC/USD remains within consolidation mode, as price action continues to narrow.
Price action is moving within a narrowing pennant structure, subject to a potential breakout south.

BTC/USD daily chart

Conditions remain very much tight as the price moves within a bearish pennant pattern.

BTC/USD 60-minute chart

Price action via the 60-minute chart view is moving within a bearish pennant structure.

Spot rate: 7150.86

Relative change: -0.65%

High: 7525.12

Low: 7073.13

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