- Bitcoin price is trading in negative territory, down some 1.90% in the second half of the session.
- BTC/USD is back within the control of the market bears, following a rejection at a daily barrier, $7500.
- Price action produced a double bottom formation via the daily chart view.
BTC/USD weekly chart
Weekly price action has formed a bearish pennant structure, subject to a potential breakout south.
BTC/USD daily chart
A decent bounce was seen after the price produced a double bottom, matching up with the 23 November low, down at $6500.
Spot rate: 7178.35
Relative change: -1.90%
High: 7372.12
Low: 7000
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