Bitcoin (BTC)’s sell-off sped up on the break below $8,700. The next support is created by SMA50 daily. Bitcoin crashed below $8,700 and tested $8,550 during early Asian hours on Thursday. The coin moved outside the recent range and extended the downside into the end of the week. BTC/USD has lost 2% since the beginning of the day and 1% in recent 24 hours. Bitcoin’s technical picture On the intraday chart, BTC/USD is moving along SMA50 (Simple Moving Average), which is currently registered at $8,544. Once it is broken, the sell-off may be extended towards psychological $8,500, followed by $8,000. The next strong support is created by a confluence of SMA100 and the lower line of the weekly Bollinger Band at $7,600. On the upside, we will need to see a sustainable move above $8,700 to mitigate the initial bearish pressure. Meanwhile, the pivotal resistance comes at $9,000 followed by the middle line of the daily Bollinger Band at $9,110. Once it is out of the way, the upside is likely to gain traction with the next focus on SMA200 daily at $9,250. BTC/USD, the daily 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 UK Brexit Party leader Farage: Odds are that there will be a small Conservative majority FX Street 3 years Bitcoin (BTC)'s sell-off sped up on the break below $8,700. The next support is created by SMA50 daily. Bitcoin crashed below $8,700 and tested $8,550 during early Asian hours on Thursday. The coin moved outside the recent range and extended the downside into the end of the week. BTC/USD has lost 2% since the beginning of the day and 1% in recent 24 hours. Bitcoin's technical picture On the intraday chart, BTC/USD is moving along SMA50 (Simple Moving Average), which is currently registered at $8,544. Once it is broken, the sell-off may be extended towards psychological $8,500, followed by… 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.
