Bitcoin Price Analysis: BTC/USD Triangle Top Still Holding

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Bitcoin has formed lower highs and higher lows to create a symmetrical triangle on its daily time frame. Price is currently testing the resistance, still deciding whether to make a bounce or a break.

A bounce could take price back to the bottom of the triangle around $9,600 while a break higher could spur a rally that’s around the same height as the chart formation. The triangle spans $9,000 to around $13,500 so the uptrend might last roughly $4,500.

The 100 SMA is above the longer-term 200…

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