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05.10.202007:50 Forex Analysis & Reviews: Bitcoin Within An Ascending Triangle

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BTC/USD is trading higher at 10,666 but it seems undecided in the short term. A valid breakout above the black downtrend line signal upside continuation. The rate failed to reach the trendline or the $10,000 psychological level in the last attempts. This is why we have to wait for a fresh trading signal.

Bitcoin Trading Tips

Breaking above the downtrend line and above the $11,179.90 former high suggests buying as the rate could climb towards the $12,485 former high.

A drop and consolidation below $10,000 psychological level suggest selling as the price is expected to return to the $9000 level.

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