Thursday, August 22, 2019
With the current loss of momentum, the price of Bitcoin fell sharply after finding strong resistance at $11'000.
00:00 UTC
CyBorg Predictor
SwissBorg Community
Actual support/resistance: $10'000/$11'000
It seems that last week's announcement of Bakkt was not a significant catalyst to give enough buying pressure and reverse the current bearish sentiment. Yesterday, the price even briefly fell below the key and psychological level of $10'000. The short term downward trend has not been reversed and indicators confirm this behaviour with divergent MACD lines and a slightly oversold RSI.The price must remain above the current support level. Otherwise, we can expect to quickly test the $9300. The last major support before the $8'000 region.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
Disclaimer: This is our way of communicating with our community. It is meant to be used for informational purposes not to be mistaken for financial advice. Our opinion, when shared, is just that, it may not apply directly to your individual situation. Any information gleaned here is to be used at the readers' own risk, SwissBorg does not accept any responsibility for individual decisions made based on reading our daily blog. Any information we provide on our daily blog is accurate and true to the best of our knowledge, there may be omissions, errors or mistakes. Copyright © 2019 SwissBorg, All rights reserved.