- Bitcoin price is trading in the red, down marginally by some 0.10% in the second half of the session.
- BTC/USD has been consolidating over the last six weeks, following the heavy fall in November.
- The big barrier of $7500 continues to act as a cap to any upside pressure.
BTC/USD weekly chart
Weekly price action remains intact within a bearish pennant formation, as BTC heads for another week in the red.
BTC/USD daily chart
The price is heading for its fifth consecutive session in the red, as markets bears maintain full control. Price action is moving within a narrowing range block formation, given the lack of commitment for now.
Spot rate: 7150.86
Relative change: -0.10%
High: 7237.59
Low: 7031.86
Share
