- Bitcoin price is trading in negative territory, down 4.50% in the second half of the session.
- BTC/USD has been narrowing for six sessions now, at risk of another drop.
- The bears will need to break down $5000 to invite another wave of downside pressure.
BTC/USD daily chart
Price action has formed a bearish pennant via the daily chart view, with a breach pending.
BTC/USD 60-minute chart
The price has breached a bearish flag pattern, inviting for further downside pressure. Retest and rejection have also been observed.
Spot rate: 5270.10
Relative change: -0.50%
High: 5467.40
Low: 4936.46
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