Wednesday, September 11, 2019
Will the $10'000 support hold in the next few days?
Current support/resistance: $10'000/$10'400
A significant selling pressure caused the price of Bitcoin to fall below $10'000 to recover after a few hours. For the time being, the psychological level is holding up well, but the lack of buying pressure, momentum and catalyst suggests that it is likely that the price will fall below it. Indeed, the compression triangle has not been broken and it is now less likely that it will break on the upside. The coming days will be critical and it is likely that the current market structure will change significantly.
Technical indicators are still bearish with a RSI in a clear oversold region and the MACD lines will probably cross today.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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