Ken Chigbo
Independent Analyst
- Bitcoin price on Thursday in the latter part of the session is trading up some 2%.
- BTC/USD is breaking out of a bearish pennant structure, killing off the technical set up for a push lower.
- The price appears to be just one barrier away from $11,000 price return. Near-term 60-minute supply at $10,500 mark.
Spot rate: 10,293.00
Relative change: +2,10%
High: 10,342.10
Low: 9881.11
BTC/USD 60-minute chart
- Heavy near-term supply at $10,500, the last major barrier ahead of $11,000.
BTC/USD daily chart
- There is room for the bulls to capitalise given the breakout from a bearish technical structure, pennant.
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