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  • Bitcoin price in the session on Wednesday is trading in negative territory by some 2.15%.
  • BTC/USD momentum remains tilted to the downside, dropping for the past three consecutive sessions.  
  • The $10,000 price mark is losing much ground, with eyes on a potential return down to $9000.  

 

Spot rate:                 10,627.56

Relative change:       -2.15%

High:                         10,859.91

Low:                           10,356.45

BTC/USD daily chart

  • Pressure remains very much to the south, as the price has been falling for the past three sessions in a row. $12,000 rejection last week was the entry for the bears.   The next major area of demand can be observed at $10,00-9000 range.  

BTC/USD 4-hour chart

  • Price action smashed out from a bearish pennant structure, allowing BTC further room to drop.