Bitcoin “Fighting for Life” Above $10,000

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.

Just a couple of days ago, Bitcoin (BTC) was flying high above the $12,000 mark. Fast-forward to today and the benchmark cryptocurrency is struggling to close today’s candle above the $10,000 key support.

It all came crashing for Bitcoin when the US equity markets picked up strong demand, causing excess supply for the cryptocurrency. Meanwhile, the main problem for BTC came when the creator SUSHI (a popular DeFi asset), Chef Nomi, sold huge portions of his holdings. This triggered a sell-off in DeFi assets, Ethereum, and ultimately, Bitcoin.

In the past 24 hours, BTC has reached its lowest point since July 26 ($9,878).

BTCUSD – 4-Hour Chart

Key BTC Levels to Watch

The most important level to watch here is the $10,000 mark. BTC could find short-term respite if it ends the day above this level. If Bitcoin loses its hold of this area, we could see the $9,800, and subsequently the $9,600 CME gap.

On the flip side, there could be a strong correction from this level, which could send the primary cryptocurrency back into the $10,500 – $10,800 pivot region and later to the $11,000 level. After that, the 11,200 – 11,650 region will come into play again.

Meanwhile, according to indications from our MACD on the 4-hour chart, BTC is well within oversold conditions now and a strong rebound is currently brewing, giving more credence to a near-term Bitcoin recovery.

Also, this week’s correction came with intense volume, which has been recorded to be the highest for the past 30 days. That said, it only makes sense that a correction to the upside should be expected. Bitcoin will become bullish again if it crosses the $11,000 mark.

Total Market Cap: $325.9 billion

Bitcoin Market Cap: $188 billion

BTC Dominance Index: 57.8%

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *