Bitcoin Technical Analysis: BTC/USD sellers are piling in after vital near-term support

  • Bitcoin price late in the session on Monday was under pressure down some 1.6%.
  • BTC/USD price extends to the downside following a breach of key ascending trend line support.
  • Given current downside momentum, there is a risk of a potential retest of $3000 mark.  

 

Spot rate:                 3993.60

Relative change:      -1.60%

High:                        3976.98   

Low:                         3903.77

 

Trend:                       Bearish

 

BTC/USD 60-minute chart

  • Price trading within a big near-term demand zone, tracking from $3940 down to $3920 range. 

 

BTC/USD daily chart

  • Bears force a breach of a key ascending trend line, which has been in play since early February. 

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