RATE Group | Bitcoin is About to Test a Crucial Support Level After Intense Overnight Volatility
79325
post-template-default,single,single-post,postid-79325,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin is About to Test a Crucial Support Level After Intense Overnight Volatility

13 Feb Bitcoin is About to Test a Crucial Support Level After Intense Overnight Volatility

Posted at 17:45h in Bitcoin News by

[ad_1]

Bitcoin (BTC) found itself caught in the throes of intense volatility over the past several hours, with its recent bout of sideways trading within the mid-$10,300 region resulting in a major overnight drop down towards $10,000.

Bulls were able to push Bitcoin slightly higher after this drop occurred, with buyers ardently attempting to defend the key psychological price level of $10,000.

It now appears, however, that the crypto is quickly approaching a critical technical support level that has been formed throughout the course of the crypto’s recent uptrend, with a break below this level opening the gates for significantly further downside.

Bitcoin Plummets Towards $10,000 During Sharp Overnight Movement

At the time of writing, Bitcoin is trading down just under 1% at its current price of $10,240, which marks a notable decline from daily highs of over $10,400 that were set during yesterday’s slow upwards grind.

This drop first occurred overnight during a sharp movement that led the…

[ad_2]

Source link

Tags:
, , , , , , ,