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BTC/USD technical analysis: Bitcoin moves to the top of a bull flag formation

FX Street

Updated: 10 Oct. 2019 | 23:27

Bitcoin moves above breakeven for the first time today.
The technical bull flag pattern looks vulnerable to an upside break.

After the break higher yesterday Bitcoin has consolidated into a bull flag formation.

The technical pattern now looks susceptible to an upside break.

There is also a relative strength index (RSI) trendline break on the cards that could indicate more upside pressure.

Volume is much lighter than yesterday and if it does not pick up sometimes that is a sign of a false break.

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