Bitcoin price started an upside correction after trading as low as $9,483 against the US Dollar. Will the uptrend continue?
16 August 2019, OctaFX – The price of Bitcoin is attempting to recover upside momentum after the number one cryptocurrency found strong support from the $9,400 level.
Bitcoin price technical analysis
The $10,000 level is now a natural pivot for the BTCUSD pair and key area to watch for a potential technical correction back towards the $10,400 to $10,800 resistance zone. Sellers may start to attack back toward the $9,400 level if the BTCUSD pair fails to attract any buying interest above the $10,000 level.
The BTCUSD pair is only bullish while trading above the $11,100 level, key resistance is located at the $12,000 and $12,300 levels.
If the BTCUSD pair trades under the $10,000 level, sellers may test towards the $9,400 and $9,080 support levels.
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