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  • 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%

High:                          8,052.42

Low:                           7,706.36