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.
Disclaimer: This is our way of communicating with our community. It is meant to be used for informational purposes not to be mistaken for financial advice. Our opinion, when shared, is just that, it may not apply directly to your individual situation. Any information gleaned here is to be used at the readers' own risk, SwissBorg does not accept any responsibility for individual decisions made based on reading our daily blog. Any information we provide on our daily blog is accurate and true to the best of our knowledge, there may be omissions, errors or mistakes. Copyright © 2019 SwissBorg, All rights reserved.