The Bitcoin cryptocurrency has appreciated about 31.34% in value against the US Dollar during last week's trading sessions. A breakout has occurred through the upper boundary of a descending channel pattern at 9121.9.
Given that a breakout had occurred, the BTC/USD pair will likely continue to edge higher within next week's trading sessions. The price could move past the $10000 mark in the shorter term.
However, the BTC/USD cryptocurrency is likely to make a brief downside retracement towards the 8478.4 area during the following trading sessions.