- Bitcoin momentum starts to tail of at 10,200.00
- Could prices be heading back to the psychological 10,000.00 level
- Intraday technical indicators turn south
Intraday price action turns south as Asian participants enter the fray. BTC/USD has had a pretty positive session today with prices up 0,13% after yesterday's capitulation.
The next support level on the way down is at 10,050.00 marked on the chart above. Below this 10,000.00 is the next target.
Both the stochastic and MACD turn bearish. The Stochastic indicator's moving averages have both dropped below the mid-line and the K-line has moved into the oversold zone. The MACD histogram has just turned south too but the moving averages are still holding above the mid-line.
Another potential target could be the trendline under the price at the moment. The top of the channel has been well respected throughout the day and the parallel could provide support.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.