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Bitcoin technical analysis: BTC/USD sellers remains strong on $11,000 region

  • Bitcoin price in the session on Tuesday is trading with losses of some 3.50%.
  • BTC/USD price action via the near-term view has formed a double bottom, protecting the $10,500 mark. 
  • Key resistance can be observed running from $11,000-11,500, via the daily. 
Bitcoin technical analysis: BTC/USD sellers remains strong on $11,000 region
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  10,664.23

Relative change:      -2.30%

High:                         10,954.79

Low:                          10,561.66

BTC/USD daily chart

  • Sellers remain camped in the range of $11,000-11,500 price range, causing much difficulty. 

BTC/USD 15-minute chart

  • Near-term buying area protecting price from free-falling below the $10,500 area. 

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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