January 16, 2021

Bitcoin Price Analysis: BTC drifts marginally lower

1 min read
BTC Price Analysis

BTC Price Analysis

Flash Alert: Tuesday 10th September

So far Today, BTCUSDT has traded within a $191.44 range, initially hitting a low of $10,193.55 during the Asian trading session before bouncing to $10,384.99 during the European trading session.

At the time of writing, BTCUSDT was trading at $10,254 so no major moves so far today and the observations made in our Flash Alert yesterday remain valid.

A close up on the four hour charts indicates that BTCUSDT is continuing to encounter resistance around the same short-term moving averages that were previously providing support. It is also entirely possible that we will see BTCUSDT gravitate towards the $9,800 level over the coming days although we anticipate support around key trend lines drawn on the chart above. Based on the overall (big picture) trends , Bitcoin continues to remain bullish for now.

A follow up post to this Flash Alert may be found here.

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