Friday, August 23, 2019
The support at $10'000 holds. The weekend comes at the right time.
Current support/resistance: $10'000/$11'000
The price has tested the support level several times in the last 24 hours but the buying pressure was sufficient to go back above this key level. Right now, the $10'000 is holding up. Based on the last weekends of this summer, we can expect a status for the next few days. The more the price can be consolidated at the current level, the more likely it is that a recovery will occur.
In terms of technical indicators, the RSI is still oversold and the trend is bearish. A consolidation could turn these indicators into a more neutral region.
Will a bullish momentum finally be seen in August?
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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