Bitcoin Futures Analysis: Although 10k is broken there is another major level lower down to keep an eye on
Yes, Bitcoin has fallen below 10k again but let me show you where the main support zone is.
On the daily chart below there is a consolidation low at 9,095,0. This is the key level and if it breaks we could see prices free fall.
There is a candle close low 9,429.0 that needs to be watched also but the spikes and candle shadows print a low at 9,095.0.
On the market profile chart we can have a look at the intraday levels:
On this chart, the major low we need to keep an eye on today is 9,838. If this level breaks, we could move to the next distribution around 9,651.
Ethereum price in the session on Monday is trading with losses of some 1.50%.
ETH/USD bears are forcing the price to head back down south for a big retest of an ascending trend line of support, tracking around $200.
The price is running at its fourth consecutive session in the red, after losing upside momentum.
XRP has taken out the trendline of the falling wedge on the hourly chart below.
The good news is that the moved was backed by decent volume. On the topside, there is a resistance at the psychological level of 0.3000.
Elsewhere, we might see a sticking point around 0.2903 as its the price were most volume was traded on the volume profile indicator.
The market has also seemed to have heavily rejected 0.2700 on the downside which could be a good sign for the bulls.
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.