• @Savdoescrypto

BTC/USD Fails $10,000 But Remains Strong Amidst Global Pandemic Fears




Having failed to hold a breakout of $10,000, the BTC/USD price has reverted to its prior support and resistance range.


Global risk-off sentiment caused a pause in the BTC/USD rally, with price now at 200 day EMA support and slightly above its prior low of $8,253


Bulls are likely eager buyers on weakness as we approach this level, anticipating price to hold above its prior low of $8,253 and retest $10,000.


Bears might re-commence shorting on a retest of $10,000, potentially staggering entries as price approaches the top of the orange zone at $9,876.


Signs of bearish divergence between BTC/USD price and its14 day RSI supports the bearish case, with momentum traders potentially shorters on a high volume break below $9,876.


Traders may continue to expect a spill-over effect from the recent volatility in global markets and the subsequent re-shifting in global risk sentiment.

BTSE regularly hosts the technical analysis of experienced BTSE traders. Please note that we neither endorse any analyses published nor give you financial advice. Please make any trading decisions based on your own research.


Our aim is to create a platform that offers you the most enjoyable trading experience. If you have questions or suggestions, please don’t hesitate to reach out to us at feedback@btse.com or DM us on Twitter: @BTSEcom.

Categories
Company
Community

© 2019-2020 btse.com All rights reserved