Monday, September 2, 2019
After three consecutive days in the green, the price of bitcoin is experiencing a slight bullish momentum.
Current support/resistance: $/9'300$10'000
This beginning of the week is in the green with a slightly bullish momentum. Despite this buying pressure, bitcoin is still in the compression triangle and it is likely that the downtrend will continue based on the history of the past few weeks. However, the more the price can hold above the support, the greater the chances of a recovery. The altcoins market has not yet experienced the same start to the week. Indeed, the dominance of Bitcoin has reached 70%.
In terms of technical indicators, we are still far from the 20-day moving average with an RSI on oversold despite a slight convergence of MACD lines.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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