Bitcoin price analysis – BTCUSD struggles around $10,000

25 July 2019, OctaFX – Bitcoin price is lacking a clear direction over the short-term, as the BTCUSD pair continues to struggle around the $10,000 resistance level.

Bitcoin price technical analysis

BTCUSD bears now need to break the $9,100 level to trigger the next move lower towards the $8,400 support level. Buyers currently have the upper hand after a sharp reversal from the $9,450 level, placing the $10,350 level in focus.

  • The BTCUSD pair is only bullish while trading above the $10,350 level, key resistance is located at the $10,750 and $11,100 levels.

  • If the BTCUSD pair trades under the $9,100 level, sellers may test towards the $8,400 and $8,000 support levels.

A close up of a wire fence
                                                        Description automatically generated


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.

Share Your Opinion, Write a Comment