RATE Group | Bitcoin Price Intraday Analysis: BTC/USD Trending Sideways
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Bitcoin Price Intraday Analysis: BTC/USD Trending Sideways

23 Sep Bitcoin Price Intraday Analysis: BTC/USD Trending Sideways

Posted at 21:57h in Bitcoin News by

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bitcoin price merry go-round

The bitcoin price on Sunday paused its upside momentum to trend sideways against the US Dollar, fluctuating just about 2 percent between the trading range.

BTC/USD over the last week had jumped from its previous weekly low near 6125-fiat to a new weekly high near 6840-fiat. Over the course of last 24 hours, the pair only managed to secure its recent gains while avoiding any bearish pullbacks. That said, the Asian trading session saw minimum momentum, a sentiment that rippled through the entire European trading hours. BTC/USD only formed lower low once towards 6500-fiat, but the pair’s imminent recovery confirmed the presence of long position traders.

BTC/USD Technical Analysis

Bitcoin has just attempted a successful breakout from an inverse head and shoulder pattern whose neckline was near 6551-fiat. A buy stop order above the neckline could have brought some decent profits to day traders. Overall, the breakout signals a sharper move to the upside, if not proven false by…

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