Breaking: BTC/USD drops heavily by some 4% as $7000 firmly loses ground

FX Street

Published date: 16 Dec. 2019 | 20:02

Bitcoin price comes under heavy selling pressure late on Monday, down over 3% in the session.
BTC/USD price action broke out to the downside from a bearish pennant structure.

Bitcoin price has come under heavy selling pressure in the latter stages of trading on Monday.

The bears attacked the pychological $7000 price mark, which gave way, likely triggering some stops to the downside.

Near-term price action was moving within a bearish pennant structure, of which the sellers managed to capitalize on.

BTC/USD 60-minute chart

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