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  • Bitcoin is currently going through another session of trading in the red, nursing losses of over 2%.  
  • BTC/USD price action within its consolidation mode, has formed a bearish pennant pattern.  

 

BTC/USD 60-minute chart


 

Spot rate:                    7370.1

Relative change:        -2.20%

High:                          7533.3

Low:                           7282.1

Trend:                         Bearish

 

Support 1:                  7341.5, lower part of pennant.  

Support 2:                  7320.4, demand zone.  

Support 3:                  7282.1, today’s (Friday) low.  

Resistance 1:             7376.4, upper  part of pennant.  

Resistance 2:             7442.3, 50MA.

Resistance 3:             7475.5, supply zone.