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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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