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Bitcoin Price Eyes Triangle Breakout Above $6.4K

Published 12/31/2000, 07:00 PM
Updated 10/18/2018, 09:45 AM
© Reuters.
BTC/USD
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Bitcoin (BTC) is again trading in a narrowing price range above $6,400, but the lateral trading may soon give way to a rally, according to technical studies.

The price consolidation comes after Monday's big spike to three-week highs above $6,800, which weakened the bearish case put forward by last Thursday's violation of key support.

So far, however, a bullish follow-through has not materialized, possibly because buyers are waiting for a more credible evidence of bearish invalidation.

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