|BTC Price: $9,934
Last 7 Days: -1.91% 1month: -0.67% 12months: +49.67%
Over the past week we have seen a change in trend for BTC/USD. There was a swing move below the $10,400 resistance area and it was not long after that the price pushed further below $10,000 which has shown strong support for the past couple of weeks. With this decline, the price tested a level as low as $9,650 but bounced back above $10,000 soon after. Bulls struggled to take it past the resistance level of $10,400 and the 100 simple moving average over 4 hours. As a result of this move a short term top was formed near $10,370 and a new bear push began, breaking a support level of $10,200 and settling well below the 100 SMA. Alongside this, there was a break below the 50% Fib retracement level of the last major wave from 9,630 to 10,380. More importantly, there was a break below a crucial contracting triangle with support near $10,010 on the 4 hour chart. We can see the price of BTC/USD is trading just under $10,000 now with a major support level placed at $9,500 and a major resistance level at $10,400.
16thSeptember: $15,160,167,779 (BTC Price of $10,276)
23rdSeptember: $12,574,227,066 (BTC Price of $9,990)
17% decrease in trading volume in the last 7 days