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Bitcoin Technical Analysis - Sellers are capping gains from the EU afternoon session

  • Volume on the sell-side increase at BTC/USD price drops
  • 10,775.00 was too much for bulls today
  • Intraday support broken to initiate down move
Bitcoin Technical Analysis - Sellers are capping gains from the EU afternoon session
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily
Intraday BTC chart

BTC/USD has taken a sharp fall to the downside after 10,700.00 breaks following a fair amount of selling volume. 

There was also a break of the RSI trendline to the downside. 10,555.70 is the low of the session and look out for support there.

Now price has stopped at the mean value for the day around 10,650.00.

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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