Bitcoin Technical Analysis: BTC/USD could see fast run to $5000
|- Bitcoin price is trading in positive territory, up some 0.35% in the second half of the session.
- BTC/USD price action is extending to the downside after it breached and closed below a bearish pennant via the daily chart view,.
- The price may be heading for its fifth consecutive session in the red, as the bears maintain control.
BTC/USD weekly chart
The price is still running towards another weekly close in the red, as the $7000-6800 critical zone remains at risk of a breach.
BTC/USD daily chart
Given the breach earlier in the week out from a bearish pennant, vulnerabilities remain tilted to the downside.
Spot rate: 7213.45
Relative change: +0.35%
High: 7240.65
Low: 7182.44
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