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Bitcoin price analysis - BTCUSD recovers slightly towards $10600

Bitcoin price analysis - BTCUSD recovers slightly towards $10600

Bitcoin price has built up a strong upside momentum during early Asian hours on Monday. TheBTCUSD pair has recovered from $9,900 and hit $10,600 high.

26 August 2019, OctaFX – The price of Bitcoin (BTC) is slightly higher in early week trade, following another a quick recovery towards the $10,600 resistance level earlier today.

Bitcoin price technical analysis

The $9,900 level is the key support level to watch intraday, as it represents the BTCUSD pairs 100-day moving average. Overall, unless the $10,600 level is broken with conviction, the largest cryptocurrency could fall back towards the $9,450 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.

Disclaimer

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.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.