RATE Group | Bitcoin Price Clings to $10K But Now Below ‘Neutral Area,’ Says Trader
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Bitcoin Price Clings to $10K But Now Below ‘Neutral Area,’ Says Trader

23 Jul Bitcoin Price Clings to $10K But Now Below ‘Neutral Area,’ Says Trader

Posted at 07:38h in Bitcoin News by

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Bitcoin (BTC) price slid back under $10,000 July 23 after a period of sideways action broke down to send the largest cryptocurrency back to four figures.

Market visualization

Market visualization. Source: Coin360

Bitcoin price swirls around five figure mark

Data from Coin360 showed BTC/USD trading just below the barrier once again Tuesday, having failed to find support. At press time, the price fluctuated within $50 of $10,000.

Previously, the pair traded in a narrow range around $10,300, on Monday dropping to those levels after circling $10,600 over the weekend.

The latest downturn marks a repeat of the breakdown seen in Bitcoin last week, which resulted in a recent low of $9,125. Now, as then, analysts welcomed the opportunity to buy up cheap coins. 

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Courtesy of Coin360

“Wanting to see a push back up to the neutral area or resistance. If not, more 4 digit BTC to accumulate,” investor Josh Rager summarized in his latest daily price note noting the importance of the…

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