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Bitcoin Bulls Seek Breakout to $10K or Higher

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Bitcoin Bulls Seek Breakout to $10K or Higher

Bitcoin (BTC) has been trading in a narrowing price range over the past week, but a bullish breakout is looking likely, the technical charts suggest.

The cryptocurrency created a bearish outside-day candle last Wednesday, signaling the rally from the low of $6,425 had run out of steam. However, the bitcoin bulls ensured there was no negativefollow-through on Thursday and defended $8,800 over the weekend.

While a convincing break above $9,500 has remained elusive so far, the charts suggest the bulls have the stronger hand going forward.

 

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Author: Omkar Godbole