Bitcoin has settled in the middle of $9,000-$10,000 range. A critical resistance of $11,000 is still out of reach. Despite a bout of volatility, #Bitcoin (BTC) has been oscillating in a tight range and has barely changed since the weekend. At the time of writing, NBTC/USD is changing hands at $9,467, down nearly 2% in recent 24 hours and unchanged since the beginning of the day. Meanwhile, the first digital coin is still significantly lower on a week-on-week basis (-7%). Bitcoin’s technical picture From the longer-term perspective, the key support awaits BTC/USD on approach to $8,800. This area is strengthened by a confluence of daily SMA100 (Simple Moving Average) and the lower line of Bollinger Bands on a daily chart. A sustainable move below this handle will worsen the technical picture and allow for an extended sell-off with the next focus on psychological $8,000 and $7,850 (the middle line of Bollinger Bands on a weekly chart). On the upside, we will need to see a sustainable move above $10,000 for the upside to gain traction. This barrier has been holding back the recovery since July 24, as numerous attempts to crack it failed to materialize. The next resistance awaits at $10,450 (SMA50 daily chart). Once it is out of the way, the upside is likely to gain traction with the subsequent focus on $11,000. BTC/USD, 1-day chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next BOJ’s Kuroda: ECB, Fed changing stance amid global uncertainty FX Street 4 years Bitcoin has settled in the middle of $9,000-$10,000 range. A critical resistance of $11,000 is still out of reach. Despite a bout of volatility, #Bitcoin (BTC) has been oscillating in a tight range and has barely changed since the weekend. At the time of writing, NBTC/USD is changing hands at $9,467, down nearly 2% in recent 24 hours and unchanged since the beginning of the day. Meanwhile, the first digital coin is still significantly lower on a week-on-week basis (-7%). Bitcoin's technical picture From the longer-term perspective, the key support awaits BTC/USD on approach to $8,800. This area is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
