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Bitcoin technical analysis: BTC/USD could have a very fast fall down to $5000

FX Street

Updated: 25 Nov. 2019 | 16:07

Bitcoin price is trading in positive territory, up some 3.60% in the second half of the session.
BTC/USD has aggressively been pushing to the downside since 27 October.
The price remains at risk of falling to the next major demand area at $5000.

BTC/USD weekly chart

The price is running towards its fourth consecutive week in the red.

BTC/USD daily chart

Price action is moving within a critical demand zone, $7300-6900, a break could invite a fresh wave of selling.

Spot rate: 7156.42

Relative change: +3.60%

High: 7276.19

Low: 6,526.81

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