- Bitcoin price late on Monday trading marginally in the red, as the price continues to move sideways.
- BTC/USD price action has formed a range-block formation, subject to another breakout south.
The Bitcoin price in the very latter stages of trading on Monday, was seen nursing some minor losses of around 0.40%. It has been a generally quiet and range-bound session for the start of the week, continuing what was seen in the prior week.
BTC/USD price action via the daily chart view, continues to move within a range-bound nature, having formed a block, subject to another breakout south. This type of price action does express vulnerabilities to the downside.
Technically, the next major area of support – near-term is eyed just below, the lower part of the above-mentioned formation. This can be seen tracking at $3350, a breach here will likely invite another wave of selling pressure. Bears will be eying up the a return to $3000, next big psychological area of support and where the big buyers could come back in.
BTC/USD daily chart
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.