Search ForexCrunch
  • Bitcoin is consolidating after hitting 8K earlier in the session.
  • There is a triangle type pattern forming on the hourly chart.

BTC/USD Hourly Chart

Bitcoin has based out today and there is a chart pattern forming that has broken higher.

The triangle was broken earlier in the session and now the top of the pattern is acting as support which is often the case.

A confirmation of the move higher will only occur if 8,150 is broken to the upside.

This is the consolidation high and new pattern top.

The MACD indicator is also showing positive signs as the histogram is above zero.  

The next thing to look out for is the two MA lines moving over the zero level.  

Bitcoin Analysis

Additional Levels