Bitcoin price analysis – BTCUSD extremely overbought

24 June 2019, OctaFX – Bitcoin price has surged above the $10,000 level for the first time since March 2018 as bulls broke through the five-figure mark with ease.

Bitcoin price technical analysis

Short and medium-term technical readings are extremely overbought at present, leaving the BTCUSD pair open to large profit taking. Failure to make new higher highs may attract a move back towards the $10,000 level.

  • BTCUSD price is bullish while trading above the $10,600 level, key resistance is located at the $11,000 and $11,400 levels.

  • If BTCUSD price trades under the $10,600 level, sellers may test towards the $10,000 and $9,800 support levels.

BTCUSD Price, Bitcoin price


This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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