Ken Chigbo
Independent Analyst
- Bitcoin price in the session on Wednesday is trading in negative territory by some 2.15%.
- BTC/USD momentum remains tilted to the downside, dropping for the past three consecutive sessions.
- The $10,000 price mark is losing much ground, with eyes on a potential return down to $9000.
Spot rate: 10,627.56
Relative change: -2.15%
High: 10,859.91
Low: 10,356.45
BTC/USD daily chart
- Pressure remains very much to the south, as the price has been falling for the past three sessions in a row. $12,000 rejection last week was the entry for the bears. The next major area of demand can be observed at $10,00-9000 range.
BTC/USD 4-hour chart
- Price action smashed out from a bearish pennant structure, allowing BTC further room to drop.
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