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Bitcoin technical analysis: BTC/USD sees big pennant retest

  • Bitcoin price in the second part of Friday is trading in positive territory, up some 2%.  
  • BTC/USD had a large pullback in the session on Thursday, after very briefly printing highs up within the $9000 territory.  
  • Price action has retested a breached pennant structure, completing a breakout and retest.  

 

Spot rate:                   8433.17

Relative change:       +1.78%

High:                          8458.99

Low:                          8110.740  

BTC/USD 60-minute chart

  • Price action via the 60-minute chart view has broken out from near-term range-block formation, inviting an additional wave of buying pressure.  

 

BTC/USD daily chart

  • The price via the daily had previously broken out from a pennant structure and has now retested.  

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