Bitcoin technical analysis: BTC/USD another session in the range block risks further downside
|- Bitcoin price is trading marginally in the red, down some 0.20% in the second half of the session.
- BTC/USD continues to move within a narrowing range block formation vulnerable to downside risks.
- Upside remains limited and short-lived, rallied seen are quickly sold by the market bears.
BTC/USD daily chart
Bulls will need to smash out to the upside from the range block in order to change the current downside trend.
BTC/USD 60-minute chart
A heavy near-term barrier of supply can be observed around $8,300 preventing further moves north.
Spot rate: 8,215.20
Relative change: -0.20%
High: 8,237.83
Low: 8,119.81
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