Bitcoin Price Analysis: BTC/USD bulls smash out of pennant structure
|- Bitcoin price is trading in positive territory, up 7.50% in the second half of the session.
- The bulls successfully held above the $6000 territory, with a recent push above $6500.
- A breakout from a narrowing range has invited an opportunity to drive higher.
BTC/USD daily chart
Price action had formed a bullish pennant between 19-23 March, of which the bulls have forced a breakout to the upside.
BTC/USD 60-minute chart
The next 60-minute zone of resistance is eyed at $6800-900 price range.
Spot rate: 6725.10
Relative change: +3.50%
High: 6861.94
Low: 6403.85
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.