February 8, 2023

Bitcoin price analysis on 11/09/2019

Bitcoin price analysis on 11/09/2019

The price of Bitcoin has rolled back to a very important level of support. If the bears can push it, then maybe decline to the area of ​​7950.00 USD.

BTC / USDBitcoin price analysis on 11/09/2019

Yesterday morning sellers gradually increasedthe pressure and price of BTC sank to the support of 8900.00 USD, which we spoke about at the beginning of the week. After the rebound, the bears increased pressure, and the pair broke the support of 8900.00 USD.

The decline stopped the daily EMA200 at a minimum of 8661.00 USD.

Bitcoin price analysis on 11/09/2019

Over the night, the couple tried to recover to level8900.00 USD, but the probability of gaining a foothold above it is quite small. If sellers sell support for the daily EMA200, then the decline will continue to the area of ​​8500.00 USD.

The level of “eight and a half” often worked out as resistance, not support. Perhaps he will not be able to keep the price in consolidation for a long time. If the bears manage to sell it in the medium term, the most likely area of ​​consolidation may be the POC line (7954.06 USD) of the Volume Profile indicator.

* All price values ​​are based on data from the BitStamp exchange