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  • Bitcoin  price is trading marginally in the green, up some 0.10% in the second half of the session.  
  • BTC/USD continues to move within a bearish penannt structure, vulnerable to downside risks.  
  • Critical near-term support can be eyed at $8100 via the hourly, failure to hold may see the bears capitalize on the bearish structure.  

 

BTC/USD daily chart

The price has been trading within the confinements of a bearish pennant since 25 September.  

BTC/USD 60-minute chart

Bitcoin has broken above near-term resistance at the $8,000 mark and moving north of a descending trend line.  

 

 

Spot rate:                   8,215.20

Relative change:       +0.10%

High:                          8,344.20

Low:                           8,152.46