Bitcoin Price Analysis Sep 14 – Sep 20
Bitcoin Last Week
The last week saw Bitcoin’s continuous reversal, until the end of the week its price was almost unchanged from the previous week. Ending September 13, Bitcoin’s price stopped at $10,276, up 0.54%, in contrast to the 12.39% drop from the previous week.
The first day of the week made everyone heartache, Bitcoin fell to an intraday low of $9,914 before the end of the day, up 1.18%.
The first major support level appeared at $9,445, but then Bitcoin reversed, its third first gain of the week, to $10,464.
Ending the day’s rally, Bitcoin turned to a weekly low of $9,882,
The following days, which saw Bitcoin rebound, break out of its first major support at $9,445, the highest gain for the week of $10,623 on the weekend.
Though a lot down from the first major resistance at $11,587, a bounce back to $10,500 was the week’s brightest spot.
5 days in the green including a 1.18% gain on Monday and a 1.12% gain on Wednesday brought in an uptrend. However, a slide of 2.39% on Tuesday and a decline of 1.21% on Sunday limited the gain for the week.
Bitcoin The Week Ahead
To run the first major resistance at $ 10,675, Bitcoin needs to stay away from the $10,279 pivot.
To do this requires a positive market move, a stronger impact on Bitcoin holdings for it to rise back to $11,000, this also considers as the first major resistance level. in this week.
In the event of a breakout, Bitcoin can move a second major resistance level of $11,500 that will function before any pullback.
Conversely, the first major support at $9,935 will appear if it slides past the $10,279 pivot.
If there is a sell-off, Bitcoin avoids the $ 9,500 and $ 9,538 mark.
At the time of writing, Bitcoin is down 0.46% to $10,283.
Source: FX Empire