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Bitcoin Price Analysis: BTC/USD could be in deeper trouble

  • Bitcoin price is trading in negative territory, down 1.50% in the second half of the session. 
  • BTC/USD has been largely under pressure, with the bears maintaining control to the downside. 
  • The price has been falling for three consecutive sessions now. 
Bitcoin Price Analysis: BTC/USD could be in deeper trouble
Ken ChigboKen ChigboIndependent Analyst

BTC/USD daily chart

Daily support should be noted at $9100, failure to hold could invite a fresh wave of selling pressure.                  

BTC/USD 60-minute chart

Price action has broken out of a bearish pennant structure via the 60-minute chart view. 

Spot rate:                 9067.90

Relative change:      -2.60%

High:                        9366.62

Low:                         9008.61

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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