• @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.

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