Search ForexCrunch
  • Bitcoing pressure in the latter stages of Monday. comes under heavy selling pressure.  
  • Falling price caught by a near-term ascending trend line, a breach would see a retest of $3500 and then $3000.

 

The Bitcoin price came under renewed selling pressure in the latter stages of trading on Monday. BTC/USD dropped around 6% within the last hour of trading. Market bears looking for a test of the flat $3000 mark.

BTC/USD enjoyed a decent bounce over the weekend, on Sunday. The bulls however have failed to capitalize on this staging of a rebound. Any near-term rallies continue to be sold by the market bears.

Techncially, the price via the 15-minute chart view is being supporting by an ascending trend line. A breach from the bears would see a retest of $3500 to the downside. Looking further south, a number of calls have been for a retest of the $3000 the figure.  

 

BTC/USD 15-minute chart