RATE Group | BTC/USD explosive breakout is awaited out from narrowing conditions
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BTC/USD explosive breakout is awaited out from narrowing conditions

06 Nov BTC/USD explosive breakout is awaited out from narrowing conditions

Posted at 17:12h in Bitcoin News by

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  • Bitcoin price is trading in positive territory, up some 0.40% in the second half of the session. 
  • BTC/USD price action continues to narrow within a pennant structure, subject to a breakout. 
  • Trading conditions remain extremely narrow across the board, a breakout is looming.

 

BTC/USD weekly chart

The price has been pushing to the north for going on three weeks, although a lack of momentum within the last two. 

BTC/USD daily chart

BTC/USD price action via the daily chart has done little in terms of movement since 27 October.  

 

Spot rate:                   9,359.24

Relative change:       +0.40%

High:                          9,447.93

Low:                           9,278.73

 

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