Bitcoin technical analysis: BTC/USD flirting with s critical ascending trend line of support
- Bitcoin price is trading in minor negative territory on Monday, nursing small losses of just some 0.05%.
- BTC/USD can be seen flirting with a key ascending trend line of support, which has been in play since May.
- A breach of the noted support could open the door to another wave of selling pressure.
Spot rate: 9,534.37
Relative change: -0.05%
High: 9721.37
Low: 9372.20
BTC/USD 60-minute chart
- The price via the 60-minute chart view is moving within a bearish flag structure, subject to a potential breakout south.
BTC/USD daily chart
- Price action has been moving ever so closely to a critical ascending trend line of support via the daily.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
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