Friday, October 4, 2019
The signals are still bearish despite good support at $8'000.
Current support/resistance: $8'000/$8'600
While the bearish momentum had slowed, a strong selling pressure pushed the price of bitcoin down to the $8'000 support level. Fortunately for the bulls, this level has held for now. We remind you here that, in general, the more a support is tested, the more likely it is that it will break down. During the weekend, it is likely that the price will stabilize with a sideways market. In terms of technical indicators, the RSI(14) has still not returned to a neutral region and bitcoin is still below the 200-day and 20-day moving average (long and short-term key indicators).
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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