- Bitcoin price in the second half of the session on Monday is trading in negative territory by some 1%.
- BTC/USD is in a very near-term form of consolidation after a chunky run higher in the past five sessions.
- Price action has managed to remain elevated after an extension higher, following a bullish pennant breakout.
Spot rate: 8690.01
Relative change: -1.05%
High: 8818.32
Low: 8557.72
BTC/USD 60-minute chart
- Price action is narrowing, with loss of bullish momentum seen, growing possibilities of a pullback given current behaviour.
BTC/USD daily chart
- Should the price further cool, eyes will be on breached pennant seen below for next support, marking a breakout and retest.
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