Friday, September 6, 2019
A week in the green but still insufficient to reverse the downward trend.
Current support/resistance: $10'300/$10'800
Bitcoin has trouble to cross the $10'800 but the buying pressure is still there. To hope for a bullish momentum, the price must at least stabilize at the current level over the weekend to get closer to the compression triangle. Otherwise, it is likely that the same pattern observed in August will be repeated. If the price rises above $10,800 today, it will be important to follow how Bitcoin behaves at the $11,000 level. The key level. Technical indicators highlight this relatively neutral period with low volumes.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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