BTCUSDT 1D | Bitcoin market overview: Drop to $9,875
Hello, dear subscribers!
In the previous survey we looked at the resistance zone breakthrough of $11,900 - $12,000 on the 4-hour chart. On the daily chart we see a wider resistance zone of $11,800 - $12,200. The bulls could not hold on above it and the Bitcoin price collapsed to $9,875 within two days.
The current price of the Bitcoin is $10,200. The upward trend that started in mid-July from the price level of $9,200 has ended.
Support zone 1 on the chart became a resistance zone, as the price is located under it. In the following days, the Bitcoin market is likely to move further down to $9,200-$9,500, the current volatility will allow the bears to make such a breakthrough as buyers panic selling their assets. Or we will be in the flat zone - $10,000 - $10,900, which will allow market participants to calm down and decide which side the price of bitcoin will go in.
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In the previous survey we looked at the resistance zone breakthrough of $11,900 - $12,000 on the 4-hour chart. On the daily chart we see a wider resistance zone of $11,800 - $12,200. The bulls could not hold on above it and the Bitcoin price collapsed to $9,875 within two days.
Support zone 1 on the chart became a resistance zone, as the price is located under it. In the following days, the Bitcoin market is likely to move further down to $9,200-$9,500, the current volatility will allow the bears to make such a breakthrough as buyers panic selling their assets. Or we will be in the flat zone - $10,000 - $10,900, which will allow market participants to calm down and decide which side the price of bitcoin will go in.
Subscribe to the channel and stay with us!