Bitcoin (BTC) is once again plagued by a hectic trading fork, which does not allow to know with certainty whether it will venture into the four-digit price range – or whether Bitcoin will climb until it reaches its highest level of $ 13,800 reached.
This taciturn is largely focused on the fight between the bulls and bears of the BTC. It is currently underway as cryptocurrency continues to find support in the region of more than US $ 9,000.
Bitcoin continues to find support at around $ 10,000
At the time of writing, Bitcoin is trading at its current price of $ 10,150, which is a steep drop from yesterday's highs of nearly $ 10,500.
The current price drop has reduced cryptocurrency to $ 10,000, which remains a significant level of psychological support. Although each drop below $ 10,000 has been accompanied by decent buying pressure, it appears that this level may be weakening.
Some analysts estimate that the downward optimistic reaction of $ 9,800 last Wednesday and upwards of $ 10,500 yesterday may have been triggered by rising trade tensions between the United States and China, but its evolution is probably volatile. have gone beyond this theory.
"It was the first time that $ BTC reacted sharply to a commercial warfare title or a $ USDCNY fix in * real time," commented economist Alex Krüger on Twitter, pointing to the price hike now lost.
Although Bitcoin has continued to find support around $ 10,000, analysts believe that this level of support could decline, which means that crypto-dad may soon fall in his next big region, where the pressure of buying around $ 8,800. The dollar lies.
The cryptanalyst Twitter, DonAlt, also spoke about the recent action of Bitcoin prices, saying that its inability to increase prices permanently indicated that its short-term price actions were down and that its current support region "s & rsquo; # 39; thinned. "
$ Daily update of BTC: closed via a mini-resistor and discharged immediately. That's what I mean when I talk about difficult conditions. That is, he has never left the lower trading range and as long as he is there, the short-term bias needs to be narrowed. Support is starting to diminish, in my opinion, "he said.
$ BTC daily update:
Closed above the mini resistance and immediately dropped.
That's what I say when I say jerky conditions.
That said, it never left the lower trading range, and as long as the short-term bias is down.
Support wearing thin here, in my opinion. pic.twitter.com/3yzu3P0r1P
– DonAlt (@CryptoDonAlt) August 24, 2019
This weekend will likely be a brighter period for BTC traders, as Bitcoin's reaction to current sales pressures will indicate whether it is ready to increase in the near term or threaten further losses.
Proof of text: newsbtc