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Bitcoin technical analysis: BTC/USD big bull action returns with a game-changing barrier insight

  • Bitcoin price in the session on Wednesday is trading firmly in the green, up some 5%.
  • BTC/USD upside momentum resumes after the bulls took a break on Tuesday.  
  • The bulls are attempting to make firmer footing within the $12,000 price territory.  

 

Spot rate:                  12,068.99

Relative change:        +5.27%

High:                          12,150.20

Low:                           11,385.94

 

BTC/USD 60-minute chart

  • Price action set to challenge the high area seen in the session on Tuesday 6 August.  

BTC/USD daily chart

  • Bulls are making decent progress for a breakdown of the big supply zone, $12,000-12,500 range.  

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