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Bitcoin Price Analysis: BTC/USD bulls will be in full force if there is a closure above $7000

FX Street
Published date:
  • Bitcoin price is trading in positive territory, down 2.60% in the second half of the session. 
  • BTC/USD has managed to close four consecutive sessions in the green. 
  • Bulls are attempting to regather upside momentum, following the explosive push on Thursday. 

BTC/USD daily chart

The price continues to have difficulty with chunky supply ahead of the psychological $7000 mark. A daily breakout and closure above via the daily is critical for further upside pressure.

BTC/USD 60-minute chart

Price action went back into tight trade conditions, however, the bulls forced a breakout of a narrowing triangular structure. 

 

Spot rate:                 6990.20

Relative change:     +2.60%

High:                        7048.98

Low:                         6730.37

 

 

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