BTCUSD continues to rise towards the 50% Fibonacci retracement and the $10,100 resistance level. Price continues to trade inside the bullish channel after exiting the downward sloping wedge pattern.
Red lines- wedge pattern
Green lines - bullish channel
BTCUSD is approaching important Fibonacci resistance. Short-term support is at $9030. If price breaks below this support level we should expect selling pressure to push price towards $7,500-$7,200 for a back test of the broken wedge pattern.
