Bitcoin technical analysis: BTC/USD bearish flag dangers loom

FX Street

Published date: 10 Dec. 2019 | 16:17

Bitcoin price is trading in negative territory, down some 0.50% in the second half of the session.
BTC/USD price action is moving within a bearish flag structure via the daily chart.
The bulls must break the barrier at $7500 for recovery to continue to take place.

BTC/USD 60-minute chart

Price action has breached a near-term pennant structure, further pressure south eyed.

BTC/USD daily chart

A bearish flag structure can be observed via the daily, subject to a potential breakout south.

Spot rate: 7,387.68

Relative change: -0.50%

High: 7398.24

Low: 7247.46

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