Bitcoin technical analysis: BTC/USD price subject to a $9000 return

  • 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.

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