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Short

Bitcoin (BTC) on the verge to break below $10k

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The BTC/USD pair opened the new trading week with a volatile session during which we saw it moving in the $10,600-$10,200 range. It closed the day on Monday, September 9 at $10,297. On the next day we found it dropping even lower losing 2.4 percent of its value and closing at $10,070.
The $10,000 level was not quite stable during the past few weeks, still bulls were hoping to hold it for a longer period this time in order to consolidate and set the ground for further attacks of the mid-$10k and $11k levels.
The mid-week session on September 11 brought some stability as bitcoin erased some part of the loses from the previous session and climbed to $10,158.
If we fall below $10,000 I expect another test of $9,400. Given the fact we are already in September, returning to trading season I don't expect it to fall further down. The pessimistic scenario sees BTC at $9,100.
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