Bitcoin Price Analysis: There is lots of apprehension at current levels
- The most recent daily candles have both been "doji's" which is a sign of indecision.
- Since the halving event, there has been a distinct lack of momentum.
BTC/USD daily chart
Bitcoin is once again stalling near the 10K level. Both Monday's and Tuesday's candlesticks have been pretty indecisive (doji candles), which shows that the market is lacking any clear direction at these levels.
All we can do for now is look for breakout levels that could give us more clues on the future path of the digital gold. If the 10K level does break then there is a decent resistance zone very close by. 10522.51 has been used on three occasions on this chart alone to good effect could the next break be the real one?.
On the downside, 9139.00 is the current consolidation support low. If this breaks to the downside then the next major support level is the black horizontal line at 8114.50 is the target.
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Additional levels
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
