Tuesday, September 10, 2019
For now, the $10'000 support is holding.
Current support/resistance: $10'000/$10'400
The $10'000 level was tested yesterday and held up well despite significant bearish pressure. The trend is bearish in the short term with technical indicators indicating an oversold region and a momentum that will be soon bearish. If the current level is maintained, it is possible that a recovery will be observed with the trend line of the falling triangle as a major resistance around $10'600. With the slowing of volumes, the price is not immune to a violent movement that could see the current structure change completely. Indeed, the $10'000 support has not shown any major signs of strength in recent weeks.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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