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Bitcoin technical analysis: BTC/USD buyers are fighting again to defend $10,0000

  • Bitcoin price is nursing losses on Monday of some 1% in the second half of the session.
  • BTC/USD ran into a chunky supply region, $10,500- 11,000 price range, forcing a retreat. 
  • Given the current downside pressure the bears could be heading for another push below $10,000. 
Bitcoin technical analysis: BTC/USD buyers are fighting again to defend $10,0000
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  10,221.06

Relative change:      -3.39%

High:                         10,685.62

Low:                          10,144.06

BTC/USD 60-minute chart

  • $10,000 remains very much vulnerable, given 60-minute near-term demand zone breach. 

BTC/USD daily chart

  • Heavy supply can be seen running at a $500 range, between $10,500-11,000. 

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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