Bitcoin technical analysis: BTC/USD heading for full bull run reversal
|- Bitcoin price on Thursday is under heavy selling pressure, nursing steep losses of some 10%.
- BTC/USD has given back the advance seen on Wednesday and more.
- The next major area of safety is eyed back down at the psychological $10,000 mark.
Spot rate: 11,670.04
Relative change: -13.35%
High: 13,353.04
Low: 11,289.01
BTC/USD 60-minute chart
- Bears set to test major support area of $10,500-10,000, if it fails to hold there could be a very fast further drop south.
BTC/USD daily chart
- Price pressures have been heavily to the downside, as the bulls failed to sustain the aggressive push north 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.