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  • Bitcoin price in the latter stages of trading on Wednesday is nursing losses of some 0.5%.
  • Price action has formed a triangular structure via the daily, subject to another wave of potential selling if $10,000 gives way.  

The Bitcoin price in the second half of the session on Thursday is trading with very minor losses of some 0.50%. The bear market continues to cap any upside potential for Bitcoin and many of its peers.    

Price action via the daily chart view is moving within a triangular structure. BTC/USD is has been consolidating and narrowing since the latter stages of June, following the price jumping to heights of around $13,800 region

In terms of the technical view, given the above-noted price formation, it does appear vulnerable to downside risks. The lower tracking ascending trend line of the pattern is seen at $10,000, failure to hold could open the door to a fresh wave of selling.

 

BTC/USD daily chart