Bitcoin price falls sharply below $9700, further downside possible

Bitcoin price fell sharply below the $9,700 supports against the US Dollar. BTC price is currently at a risk of more downsides below the $9,500 support.

29 August 2019, OctaFX – The price of Bitcoin has slipped to a new two-week low in early Thursday trade after bearish news forced the cryptocurrency under the $9,700 level.

Bitcoin price technical analysis

The $9,400 level is the next big level to watch for the BTCUSD pair before the critical $9,100 support level. A number of key technical indictor are all flashing short-term sell signals.

  • The BTCUSD pair is only bullish while trading above the $10,250 level, key resistance is located at the $10,700 and $11,000 levels.

  • If the BTCUSD pair trades under the $9,900 level, sellers may test towards the $9,400 and $9,100 support levels.

Bitcoin price, price of Bitcoin


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