BTC/USD bears are keeping their presence known, with the consistent applied pressure, two key zones are now eyed

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  • Bitcoin price was seen down a chunky 4% on Wednesday, after a large sell-off triggered late on Tuesday.
  • BTC/USD next major support zones are seen at $6150-6000 and $5800-5700.

 

The Bitcoin price seen down over 4% on Wednesday, after being hammered by the market bears during late trading on Tuesday. A large cooling in prices has been observed across the crypto market, in the past two sessions.

BTC/USD on Tuesday did complete a double top formation pattern, seen up at $7155, this is where the trigger of selling began. Bitcoin has now consequently dropped over 11% in the past two days, with the $6000 now under threat.

Technically, the next area of key support is seen at $6150-6000 and $5800-5700. Failure to be supported at these area, should invite a very aggressive bout of selling for Bitcoin, seeing a fast drop potentially back below the $5000 mark.

 

BTC/USD 4-hour chart

 

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