- Bitcoin sentiment is lower today with the BTC futures contract trading 0.83% lower today.
- There is a triangle formation forming on the hourly chart and 10k is on the horizon.
Bitcoin futures sold off as the US came to markets and now trade 10,108.00.
For the bearish picture to continue a break of 10k would be needed to make another lower high lower low.
The RSI is entering the oversold area after this recent sell-off. After 10,500 was rejected again over the weekend the price made a lower high after rejecting 10,400.
A break of the triangle formation to the downside would put the support levels of 10k and 9,765 in focus once again.
On the left-hand side of the chart, the volume profile indicator is showing that price is underneath the value area of 10,384.
Let’s see if the bulls can pull the price back up toward 11k again. it just seems traders/investors are waiting for the ETF announcement or the start of Bakkt futures trading.
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