Bitcoin Technical Analysis: BTC/USD on the launch pad for further potential gains

  • Bitcoin price on Friday is trading in very minor positive territory, up just 0.10% in the second half of the session.
  • BTC/USD remains at elevated levels as the bulls eying up the $5500 territory. 
  • The next major area should $5500 be broken down will be $6000 territory. 

Spot rate:                  5278.69

Relative change:      +0.10%

High:                         5288.36

Low:                          5196.70

BTC/USD 60-minute chart

  • Price action via the 60-minute chart view is narrowing greatly within a range-block formation, subject to a breakout.

BTC/USD daily chart

  • Bitcoin is moving within a bullish pennant pattern structure, eyes on a breakout. 

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