Another slow day for crypto markets. Bitcoin continues to trade sideways and the rest follow. Let’s take a look at some of our favorite cryptocurrencies and see if the charts tell us anything.
Bitcoin Price Analysis (BTC/USD)
On 8 September at 06:00 the price of Bitcoin climbed up to almost $10600. However, the bullish move did not last long since today’s hourly chart gives a shocking scenario. Investors were highly anticipating for higher price value, but today, BTC/USD performance has narrow down there expectations. BTC/USD pair escalated from the opening price of $10546.64 to the current price of $10285.07 that shows a dip of 2.5% over the last 24hrs.
Afterward, the downside correction was reflected in several moves, with both the support level $10324.37 and resistance level $10528.07 being breached. Besides, the pair’s price is now trading below $10271.80 support level. Additionally, the RSI and the moving averages are suggesting a bearish outlook. This is because the long-term SMA has been hovering above the…