Bitcoin Price Forecast: BTC/USD bulls have a chance that must be taken
|- Bitcoin price is trading in negative territory, down 2.00% in the second half of the session.
- The price action has narrowed over the last three sessions, following a range breakout.
- A chunky barrier at the $7000 price mark remains a problem for the bulls.
BTC/USD daily chart
Trading conditions have tightened again, after a range breakout on 23 March. Another wave of buying pressure will be seen should the bulls edge above again. An opportunity to break out of a bullish pennant.
BTC/USD 60-minute chart
The near-term range-bound nature of BTC via the 60-minute builds the case for an aggressive breakout.
Spot rate: 6618.25
Relative change: -2.00%
High: 6874.74
Low: 6595.39
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