Home Bitcoin technical analysis: BTC/USD breaching $8500 could prove to be very punishing
Crypto News

Bitcoin technical analysis: BTC/USD breaching $8500 could prove to be very punishing

  • Bitcoin price is trading in negative territory, down some 0.50% in the second half of the session.
  • BTC/USD vulnerable to a fresh wave of selling pressure, with a critical near-term zone being tested.
  • The price is running towards its third consecutive session in the red.

 

BTC/USD weekly chart

Critical weekly support to the downside is eyed back at the $7800 price territory.

BTC/USD daily chart

Should the bears breach $8500, it could prove to be very punishing.

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.