Bitcoin price declined heavily in the past few sessions below $10,600 against the US Dollar.
22 August 2019, OctaFX – The price of Bitcoin has suffered heavy losses after the number one cryptocurrency was strongly rejected from just under the $11,000 level earlier this week.
Bitcoin price technical analysis
Bulls need to move the price back above the $10,500 level to secure the BTCUSD pairs short-term outlook. Overall, selling technical pullbacks is favoured over buying while the BTCUSD pair trades under the important $10,600 level.
The BTCUSD pair is only bullish while trading above the $10,600 level, key resistance is located at the $11,000 and $11,500 levels.
The BTCUSD pair is only bearish while trading under the $10,600 level, sellers may test towards the $9,750 and $9,450 support levels.
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