The Bitcoin cryptocurrency has appreciated about 10.90% in values against the US Dollar during the last week. The pair breached both the 50-, 100– and 200-hour SMAs within this short period.
The BTC/USD pair has formed an upside flag pattern. From a theoretical point of view, it is likely that the pair continues its upward movement within this session. Meanwhile, technical indicators flash bullish signals on the daily time-frame chart.
However, the pair could reverse from the current price level at 3637.5 and aim at the 100-hour simple moving average at 3399.6 during the following trading sessions.
The BTC/USD pair has formed an upside flag pattern. From a theoretical point of view, it is likely that the pair continues its upward movement within this session. Meanwhile, technical indicators flash bullish signals on the daily time-frame chart.
However, the pair could reverse from the current price level at 3637.5 and aim at the 100-hour simple moving average at 3399.6 during the following trading sessions.
As for the near future, it is likely that the BTC/USD pair continues its upward movement and potential hit the 4300 mark. Meanwhile, technical indicators flash mix signals.
Though, the crypto-coin could reverse from the current price level at 3976 and aim for the 50-hour simple moving average at 3790 during the following trading sessions.