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.
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
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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