{"id":394581,"date":"2019-08-29T06:00:36","date_gmt":"2019-08-29T06:00:36","guid":{"rendered":"https:\/\/ktsl888.com\/?p=394581"},"modified":"2024-06-11T12:54:41","modified_gmt":"2024-06-11T12:54:41","slug":"bitcoin-price-btc-trend-bearish-sell-rallies","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-btc-trend-bearish-sell-rallies\/","title":{"rendered":"Bitcoin Price (BTC) Trend Overwhelmingly Bearish, Turned Sell On Rallies"},"content":{"rendered":"
Bitcoin price fell sharply below the $10,000 and $9,800 supports against the US Dollar. BTC price is currently at a risk of more downsides below the $9,500 support.<\/em><\/p>\n In the past two days, we saw many bearish signs for BTC below the $10,500 support against the US Dollar. Finally, there was a bearish breakdown below the key $10,200 and $10,000 support levels. Additionally, there was a close below the $10,000 support and the 100 hourly simple moving average. More importantly, there were heavy downsides in Ethereum<\/a>, ripple<\/a>, binance coin, EOS and litecoin.<\/p>\n Bitcoin price is down around 5% in the past few hours and it even broke the $9,800 and $9,760 support level. Moreover, this week\u2019s followed bearish flag was breached with support near $10,000 on the hourly chart of the BTC\/USD pair. It traded to a new weekly low at $9,533 and it is currently consolidating above the $9,500 support area. Recently, there was an upside correction above the $9,600 level.<\/p>\n However, the upward move was capped by the $9,720 level plus the 23.6% Fib retracement level of the recent drop from the $10,304 high to $9,533 low. The price is currently struggling to recover above the $9,650 and $9,700. Above these, the next key resistance is near the $10,000 level. The 50% Fib retracement level of the recent drop from the $10,304 high to $9,533 low is also near the $9,920 level to act as a resistance.<\/p>\n Therefore, an upside correction towards the $9,800 and $10,000 levels could face a strong selling interest in the near term. On the downside, an immediate support is near the $9,500 level. If there is a downside break below the $9,500 support, the price could continue to decline towards the $9,200 support area.<\/p>\nBitcoin Price Analysis<\/h2>\n