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  • Bitcoin  price is trading in positive territory, up some 1.30%  in the second half of the session.  
  • BTC/USD price action is within consolidation mode, has been since breaching $9000.  
  • Critical near-term support  eyed at $8500, failure to hold could be punishing.  


BTC/USD weekly chart

In terms of support to the downside, a big weekly level is observed at $7700.  

BTC/USD daily chart

Daily price action is moving within a bullish flag structure, subject to a breakout.  


Spot rate:                    8,993.28

Relative change:        +1.25%

High:                           8,867.69

Low:                            8,697.90