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  • 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