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  • Bitcoin is trading 2.50% higher today as sentiment is still high.
  • The price has now converged into a triangle formation.

BTC/USD Daily Chart

There are a few key technical points of note at the moment.

The price is currently testing the 55 EMA at the time of writing.

The price has also converged into a triangle formation. 

The price has made a higher low and is now at the point of decision for the next higher high. 

There is also a bullish divergence on the RSI indicator marked in red.

Bitcoin Analysis

If we zoom out of the chart slightly we can see the broader formation is still in play.

The key resistance level still remains 8K as any close above would be seen as pretty bullish.

Lastly, one thing of note is how much lower the volume has become over time. 

Bitcoin Daily Chart

Additional Levels