Bitcoin Price Weekly Analysis: BTC/USD’s Triangle Break Near71.17

Bitcoin price is preparing for the next move above $6,300 against the US Dollar. BTC/USD could trade higher if buyers succeed in pushing the price above $6,450.

This past week, there was a sharp downward move from well above $6,750 in bitcoin price against the US Dollar. The BTC/USD pair topped near the $6,840 level and declined below the $6,450 support area. The drop was such that the price settled below $6,450 and the 100 simple moving average (4-hours). However, buyers took a stand near the $6,075 level and prevented further slides.

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