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  • 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