- Bitcoin price is trading in negative territory, down 3.05% in the second half of the session.
- BTC/USD is largely exposed to downside risk given a breach of $7000 mark.
- Near-term price action is narrowing, subject to further downside risks
BTC/USD weekly chart
The price formed a deadly evening star via the weekly chart view, indicating further potential downside to come.
BTC/USD daily chart
Price action is breaking out to the downside from an ascending channel/bearish flag structure.
Spot rate: 6697.27
Relative change: -3.05%
High: 6906.94
Low: 6570.49