RATE Group | BTC/USD awaits explosive triangle breakout targeting $8,000
84686
post-template-default,single,single-post,postid-84686,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

BTC/USD awaits explosive triangle breakout targeting $8,000

31 Mar BTC/USD awaits explosive triangle breakout targeting $8,000

Posted at 07:04h in Bitcoin News by

[ad_1]

  • Bitcoin price steps above $6,500 but lacks momentum to sustain gains towards the coveted $7,000 level.
  • All technical indicators align in support of the buyers who look forward to a rising triangle breakout to $8,000.

Bitcoin price bearish action over the weekend embraced the rock-solid support at $5,800, averting possible losses to $5,000. Recovery on Monday overcame several resistance levels including $6,200 and $6,400. BTC/USD also stepped above the key $6,500 zone but formed an intraday high at $6,525. The largest cryptocurrency has adjusted downwards to trade at $6,442. Intriguingly, the trend remains strongly bullish but the volatility is low due to reduced trading volume.

BTC/USD daily chart

BTC/USD price chart

Bitcoin price inches closer to the resistance at $6,500 amid calls for gains towards the psychological $7,000. Technical indicators such as the RSI and the MACD have aligned in support of bullish action in the current and coming sessions. However, low trading…

[ad_2]

Source link

Tags:
, , , , , ,