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 is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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