- Bitcoin price is trading in negative territory, down 3.70% in the second half of the session.
- BTC/USD bears manage to break down the critical barrier of support at $8500.
- Following eight sessions of consolidation, the bears are taking back control.
BTC/USD daily chart
Critical support at $8500 has been exposed, making way for further downside pressure, to reverse the upside move of last week.
BTC/USD 60-minute chart
Price action has breached a bearish pennant structure, as the bears resume control.
Spot rate: 8338.49
Relative change: -3.70%
High: 8663.76
Low: 8292.00
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