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

Rajan Dhall, MSTA FX Daily

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

FX Daily

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

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