Ken Chigbo
Independent Analyst
- 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.
Spot rate: 10,348.11
Relative change: -3.05%
High: 10,772.91
Low: 10,113.85
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.
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