Ken Chigbo
Independent Analyst
- Bitcoin price is trading in negative territory, down some % in the second half of the session.
- BTC/USD is firmly within the control of the bears, as the price continues to print lower highs.
- Given the breach of $9000, the bears are hunting for a reversal of the jump from late October.
BTC/USD weekly chart
The price closed the week in the red and may be heading for another push to the downside, with $8000 insight.
BTC/USD daily chart
Daily price action remains tilted to the downside, next major support zone seen down at $8000-7800.
Spot rate: 8,993.28
Relative change: -3.25%
High: 9,068.25
Low: 8,693.18
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