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Bitcoin price plummets below $11,100, vulnerable to further losses

OctaFx | Aug. 14, 2019
Bitcoin price plummets below $11,100, vulnerable to further losses

Bitcoin price has crashed below the $11,100 level and remains at a risk of more losses below the $10,650 and $10,000 levels.

14 August 2019, OctaFXThe price of Bitcoin has lost its short-term bullish status after slipping below the $11,100 level as the broader market suffers a protracted decline.

Bitcoin price technical analysis

The BTCUSD pair is also trading below its monthly pivot point, at $10,893, which is also helping to encourage technical selling. BTCUSD bulls are also mindful that a triple-top pattern formation has formed since the rejection from just above the $12,000 level last week.

  • The BTCUSD pair is only bullish while trading above the $11,100 level, key resistance is located at the $11,400 and $11,600 levels.

  • The BTCUSD pair is bearish while trading under the $11,100 level, sellers may test towards the $10,650 and $10,000 support levels.

Bitcoin price

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.