Bitcoin Holds $10,000 Level But Fails to Escape Lows

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In Brief
  • Bitcoin has created a bullish reversal candlestick inside a long-term support area.

  • The price has broken out from a short-term descending resistance line.

  • The price is nearing, or has reached the end of its correction.

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On Sept 8, Bitcoin (BTC) created a bullish reversal candlestick inside a long-term support area. It is not yet clear whether the price has completed its correction or if there is one more wave down before the price reverses its bearish trend. Bitcoin Forms Hammer at Support Since the rapid drop in price on Sept 2-3, the Bitcoin has been trading near the $10,100 long-term support area.
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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