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Bitcoin technical analysis: BTC/USD bears pressing for another push back below $10,000

  • Bitcoin price is nursing losses on Friday of some 3% in the second half of the session.
  • BTC/USD ran into a chunky supply region, $10,500-800 price range, forcing a retreat. 
  • Given the current downside pressure the bears likely heading for another push below $10,000. 
Bitcoin technical analysis: BTC/USD bears pressing for another push back below $10,000
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  10,348.11

Relative change:      -3.05%

High:                         10,772.91

Low:                          10,113.85

BTC/USD

Overview
Today last price10350.66
Today Daily Change-297.22
Today Daily Change %-2.79
Today daily open10647.88
 
Trends
Daily SMA2011158.04
Daily SMA509983.11
Daily SMA1008144.43
Daily SMA2005993.61
Levels
Previous Daily High10794.22
Previous Daily Low9280.44
Previous Weekly High13195.19
Previous Weekly Low10968.34
Previous Monthly High13862.09
Previous Monthly Low7437.33
Daily Fibonacci 38.2%10215.96
Daily Fibonacci 61.8%9858.71
Daily Pivot Point S19687.47
Daily Pivot Point S28727.06
Daily Pivot Point S38173.69
Daily Pivot Point R111201.26
Daily Pivot Point R211754.63
Daily Pivot Point R312715.04

BTC/USD 60-minute chart

  • Price is losing further near-term momentum, with eyes on the below demand, $9400-100 range. 

BTC/USD daily chart

  • The downside pressure is picking up the pace after failing to sustain a technical correction on Thursday. A critical trend line can be seen just below.

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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