- Bitcoin price is trading marginally in the red, down some 0.65% in the second half of the session.
- BTC/USD remains within the confinements of a bearish flag pattern.
- Critical daily support should be noted at $7800, failure to hold could be punishing.
BTC/USD daily chart
The price does remain vulnerable to downside risks, given the bearish flag formation.
BTC/USD 60-minute chart
Price action is moving within a narrowing range block, subject to a potential breakout south.
Spot rate: 8,305.77
Relative change: -0.65%
High: 8,417.41
Low: 8,266.02