- Bitcoin price comes under further pressure in the late part of Friday’s sessions, down over 5%.
- BTC/USD testing a very key near-term area of support, tracking from $6200-6100, at threat of giving way for further selling.
Bitcoin price was hit further in the latter stages of trading on Friday, seen down over 5% in the sessions, with the bears appearing to be determined to breach vital support. The downside pressure intensified, after generally slow sideways sessions.
BTC/USD has suffered blow after blow since the back end of July, in the past 13 trading sessions, Bitcoin has only managed to have two positive sessions. The crypto market remains heavily within a bearish trend.
Technically, momentum is very much to the downside, with a lack of indications to suggest that will be shifting anytime soon. A key area that had been holding was tracking between $6200-6100, which is currently being broken down by market bears. Next large level to be aware of is $5800, last traded here in the back end of June, catching the falling price before a bull run.
BTC/USD daily chart