Bitcoin technical analysis: BTC/USD subject to big $9500 support retest

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  • Bitcoin price in the session on Wednesday is trading with losses of some 0.50%.

  • BTC/USD remains under pressure, as the price heads for another retest of lower acting support in narrowing triangular structure. 

  • BTC/USD bears could again make another break for the $9500 area, critical near-term support. 

 

Spot rate:                  10,063.45

Relative change:      -0.70%

High:                         10,274.32

Low:                          9,864.18

BTC/USD daily chart

  • BTC/USD bears are pushing the price for another retest of lower acting trend line within the triangular structure.  

BTC/USD 60-minute chart

  • Upside is capped via the 60-minute chart view, by supply that runs from $10,000 up to $10,200.

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