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  • 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.