Bitcoin technical analysis: BTC/USD heading for big bearish flag retest
|- Bitcoin price is trading in positive territory, up some 2.60% in the second half of the session.
- BTC/USD price action is heading for a big retest of a breached flag structure.
- There is a chunky barrier of resistance seen at $7500, in proximity to the lower of the noted flag.
BTC/USD daily chart
The price has been running at four-consecutive sessions in the red, bulls are looking to snap this current losing streak.
BTC/USD 60-minute chart
Price action via the 60-minute chart view has broken out of a descending channel structure, inviting a fresh wave of buying pressure.
Spot rate: 7495.65
Relative change: -1.40%
High: 7770.78
Low: 7082.54
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