Friday, September 20, 2019
Bitcoin is back above $10'000!
Current support/resistance: $10'000/$10'400
After one of its fastest falls in recent months, the Bitcoin rose above $10'000 and $10'200 in two steps.
This recovery was accompanied by significant buying volumes that had not been seen for several weeks. Back in the sideways exchange zone above $10'000, it is likely that the price will stabilize again at this level over the weekend. Although the closer we get to the end of the compression triangle and the less likely it is that a breakout will occur, it is still important to watch for the trend line that will cross the $10'200 mark in three days. Violent actions on the price are possible when the convergence takes place. Indeed, it would be the first time that the price has moved above the trend line that has been formed since the end of June.
In terms of technical indicators, despite the recovery, they still indicate a slightly bearish to neutral market.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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