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Bitcoin Price Analysis: A move back below 10K is not the end of the world

  • Bitcoin is trading 2.28% lower on Monday on a slow day for cryptocurrencies.
  • The price has rejected the channel low but looks like it will close lower today.
Bitcoin Price Analysis: A move back below 10K is not the end of the world
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

BTC/USD Daily Chart

Bitcoin has fallen from grace in the past few sessions.

The pair has found support at 9,500 and bounced around $200.

The level has been used a few times on the chart to good effect.

If the price does close around these levels it could be bullish as the lows of 9,467.00 have been rejected.

Then an attach of the 10,500 level could be on the cards again.

This move lower does just look like a classic retracement and could be nothing to be worried about.

Bitcoin Chart

Additional Levels

BTC/USD

Overview
Today last price9684.31
Today Daily Change-235.97
Today Daily Change %-2.38
Today daily open9920.28
 
Trends
Daily SMA209740.59
Daily SMA508769.99
Daily SMA1008179.02
Daily SMA2008883.6
 
Levels
Previous Daily High10047.8
Previous Daily Low9613.44
Previous Weekly High10511.86
Previous Weekly Low9707.96
Previous Monthly High9568.13
Previous Monthly Low6856.63
Daily Fibonacci 38.2%9881.87
Daily Fibonacci 61.8%9779.37
Daily Pivot Point S19673.22
Daily Pivot Point S29426.15
Daily Pivot Point S39238.86
Daily Pivot Point R110107.57
Daily Pivot Point R210294.86
Daily Pivot Point R310541.93

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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