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Bitcoin technical analysis: BTC/USD daily price action nearing a potential breakout

  • Bitcoin  price is trading in the positive territory, down some 1.60% in the second half of the session.  
  • BTC/USD is moving within a bullish flag formation as the price consolidates, following a decent break higher last week.  
  • Critical resistance  eyed at $9500, a breakdown here could provide a fresh wave to buying pressure.  

 

BTC/USD daily chart

BTC/USD price action via the daily chart view is moving within a potentially bullish flag structure.  

BTC/USD 60-minute chart

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

 

 

Spot rate:                   9,311.28

Relative change:       +1.60%

High:                           9,431.19

Low:                            8,964.78

 

 

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