Connect with us

Hi, what are you looking for?

ELEVENEWS

Bitcoin

Bitcoin Technical Analysis: BTC/USD has to remain a sitting duck for now

  • Bitcoin price is trading in the red, down marginally by some 0.10% in the second half of the session. 
  • BTC/USD is moving within consolidation mode, which has been the case for some five weeks now. 
  • The price range is further narrowing, which would suggest an approaching breakout to come. 

BTC/USD weekly chart

Price conditions are tight within a bearish pennant pattern, range high at $7500, low around $7000. 

BTC/USD daily chart

The current price range block has been in play since BTC stopped falling after the October-November drop. Consolidation mode has been observed since 22 November. 

Spot rate:                  7150.86

Relative change:      -1.10%

High:                         7243.79

Low:                          7177.61

source: fxstreet

Advertisement

You May Also Like

Libra

Ripple CEO Brad Garlinghouse is adamant that Facebook’s unveiling of its Libra cryptocurrency will lead to big business for his banking software and cryptocurrency...

Ripple

When thinking about investing in Ripple (XRP), the digital coin that runs on the Ripple’s payment blockchain system, traders ought to consider what function Ripple might play...

Criptodivisas

(PRLEAP.COM) Superior Coin, a global Cryptocurrency company (www.superior-coin.com), announced today the unique use of it’s blockchain technology in regards to privacy, and security. With...

Ripple

Many of the investors are looking for cryptocurrencies which can actually rise significantly in 2018. Most of the investors are looking at the lesser...

Copyright © 2020 Elevenews