- Bitcoin price is trading in negative territory, down 2.00% in the second half of the session.
- BTC/USD is moving within consolidation mode, but at risk of further downside.
- The price has been falling heavily for going on two weeks now with the bears in control.
BTC/USD weekly chart
Price action has smashed out of a bearish flag structure via the weekly, subject to further downside pressure.
BTC/USD daily chart
Daily support should be noted at $8600-500, should this break, a fast fall down to $7000 may be seen.
Spot rate: 8636.76
Relative change: -2.05%
High: 8898.16
Low: 8431.16