Bitcoin technical analysis: BTC/USD tapping critical demand zone

FX Street

Published date: 26 Jul. 2019 | 16:37

Bitcoin price is trading in the red, nursing losses of some 1.25% on Friday.
BTC/USD upside is limited bu heavy supply now at the psychological $10,000 price mark.
Vulnerabilities to the downside still remain, given bearish pennant structure.

Spot rate: 9764.08

Relative change: -1.26%

High: 9883.78

Low: 9657.05

BTC/USD 60-minute chart

Near-term ascending trend line an important area of comfort for now, preventing a free-fall.

BTC/USD daily chart

Critical demand zone is being tested to the downside by bears, $9500-9200 range.

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