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Bitcoin technical analysis: BTC/USD bears in control, price dropping for 5 consecutive sessions

  • Bitcoin price in the session on Tuesday is trading with minor losses of some 0.95%.
  • BTC/USD is running at five consecutive sessions in the red, after a failed attempt to break out from the triangular structure. 
  • The bears are pressing hard for a return down to the big pychological $10,000 mark. 
Bitcoin technical analysis: BTC/USD bears in control, price dropping for 5 consecutive sessions
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  10,168.53

Relative change:      -0.90%

High:                         10.269.74

Low:                          10,163.64

BTC/USD daily chart

  • BTC/USD price is being weighed upon by the bears, further pressing the price south, running at five sessions in the red. 

BTC/USD 60-minute chart

  • The price can be seen testing a wedge structure to the downside via the 60-minute view. 

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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