Bitcoin technical analysis: BTC/USD fresh selling pressure as price firmly smashes $9000
|- Bitcoin price is trading in negative territory, down some 4% in the second half of the session.
- Near-term price action has smashed out from a bearish flag structure.
- BTC/USD is subject to further downside pressure should critical support of $900 be given up.
BTC/USD weekly chart
The price is testing critical weekly support to the downside seen at the $9000 price mark, which the bears are at present in control of driving deeper below.
BTC/USD daily chart
Daily price action is lost much upside momentum, following failure to break down supply at $9500.
BTC/USD 15-minute chart
Spot rate: 8,993.28
Relative change: -2.25%
High: 9,247.27
Low: 8714.48
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.