BTC has been trading upwards in the past 24 hours but there is resistance on the test at the price of $10,300, which is the good level for potential new money selling. Be careful with long positions around the resistance and watch for potential selling opportunities.
Blue rectangle – Important resistance level
Pink horizontal line – support level
Blue horizontal lines – Profit targets and support levels
Orange falling lines- Expected path
BTC is trading in the middle of the Bollinger band and there is potential for new down movement. To confirm more downside, I would like to see the breakout of the $10,110. In case of the breakout of the support, the downward target will be set at $9,795 and $9,610. Resistance levels are seen at the price of $10,360-$10,450.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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