- Bitcoin price down over 7% into the second half of the session on Monday, set to test $5000 to the downside.
- BTC/USD extends its second week further south from a bearish pennant pattern.
- Next major support to the downside eyed at $4500, last traded here in October 2017.
BTC/USD weekly chart
Spot rate: 5109.50
Relative change: -7.70%
High: 5561.08
Low: 5084.45
Trend: Bearish
Support 1: 5109.50, daily pivot point support.
Support 2: 5000.00, psychological support.
Support 3: 4500.00, last traded October 2017.
Resistance 1: 5565.00, daily resistance.
Resistance 2: 5658.08, 18 November high.
Resistance 3: 5647.21, daily pivot point resistance.
BTC/USD daily chart
- Breached pennant pattern, price extends move further south, after brief consolidation below.
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