- Bitcoin price is trading marginally in the red down some 0.50% in the second half of the session.
- BTC/USD price is finding critical support at $7500, preventing a free-fall.
- Price action has formed a bearish pennant structure via the daily chart view, subject to a potential breakout south.
BTC/USD daily chart
The price is attempting to bottom at the $7500 mark, failure to hold could be very punishing in inviting the $5000 territory.
BTC/USD 60-minute chart
Price action via the 60-minute view is moving within a narrowing range-block formation.
Spot rate: 8,011.71
Relative change: -0.20%