Bitcoin technical analysis: BTC/USD critical demand area being tested to the downside at $9000
|- Bitcoin price in the session on Friday is trading with minor gains of some 0.80%.
- The price has been falling for the past three consecutive sessions.
- BTC/USD price action is moving within a critical demand area, running from $9500 - 10,000.
- The psychological $9000 mark is at present being defended by buyers. Failure to hold could see the price quickly returning down to the next major area of support $7500.
Spot rate: 9,569.31
Relative change: +0.50%
High: 9,267.87
Low: 9,344.91
BTC/USD daily chart
- Price action is testing critical demand area to the downside at the range of $9500 - 9000.
BTC/USD 60-minute chart
- The price is being capped to the upside by $9,500, which was breached on Thursday.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.