Bitcoin Price Analysis: BTC/USD bears are in the driving seat
|- Bitcoin price is trading in minor positive territory, up 0.30% in the second half of the session.
- BTC/USD bears are in full force driving the price towards its third consecutive session in the red.
- Following eight sessions of consolidation, the bears are taking back control.
BTC/USD daily chart
The breached $8500 support will now likely act as a touch barrier of resistance.
BTC/USD 60-minute chart
Price action broke out to the downside of a bearish pennant, the bulls are making a push back above, with a retest of $8500 eyed.
Spot rate: 8414.00
Relative change: +0.30%
High: 8430.19
Low: 8217.48
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.