On Friday, the Bitcoin price extended this week’s gains to trade at about $91,585 after the latest round of U.S. economic data. The BTC/USD trades within an ascending channel formation in the 60-minute chart.

The price of the pioneer cryptocurrency has now advanced to trade a few levels above the 100-hour moving average line. However, it still has some room left to run before reaching the overbought levels of the 14-hour RSI.

Bitcoin Price Fundamentals Overview

From a fundamental perspective, the BTC/USD trades during a relatively busy period in the U.S. market. The Chicago Purchasing Managers’ Index for November missed the expectation of 44.3, with a reading of 36.3, down from the previous month’s equivalent of 43.8. On the other hand, the initial jobless claims for last week came in better than expected, with 216k versus a forecast of 225k, down from the preceding week’s claim count of 222k.

Elsewhere, U.S. durable goods orders for September outperformed the expected change of 0.3%, with a change of 0.5%. The durable goods orders ex-transportation also outshone the forecast of 0.2%, with a change of 0.6%, while the durable goods orders ex-defense missed the estimate of 1.9%, with a change of 0.1%.

On the other hand, the U.S. retail sales for September fell short of the forecasted (MoM) change of 0.4%, with a change of 0.2%. The retail sales control group for the period also missed the expectation of 0.3%, with a change of -0.1%, while the retail sales ex-autos failed to match the forecast of 0.4%, with a change of 0.3%.

Bitcoin Price Technical Analysis (the 60-min Chart)

Technically, the Bitcoin price trades within an ascending channel formation in the 60-minute chart. However, the 14-hour RSI still has room left to run before reaching the overbought levels of the 14-hour RSI.

Therefore, the bulls will look to extend the current gains toward $93,900 or higher to $96,040. On the other hand, the bears will look to pounce on pullbacks at about $89,219 or lower at $86,945.

Bitcoin Price Technical Analysis (the Daily Chart)

In the daily chart, the price of the pioneer cryptocurrency trades within a descending channel formation. However, the 14-day RSI has recently bounced back to avoid falling into oversold conditions.

Therefore, the bulls will look to extend the latest rebound towards $100,032 or higher to $108,609. On the other hand, the bears will look to pounce on profits at about $83,555 or lower at $74,752.