Friday, August 30, 2019
The signals are bearish and the $9'100 level is getting dangerously closer.
Current support/resistance: $9'300/$10'000
Bitcoin continued to fall below $9'500 and finally stabilized above $9'300 where strong buying pressure was observed with significant volumes. The price has therefore dangerously approached the support at $9'100. Indeed, this level is the one followed by many analysts because, if it is broken, it would destroy the triangle structure and confirm a sharp downward trend. In terms of technical indicators, the price is far from the 20-day moving average, and the RSI has never been so low since December 2018.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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