Bitcoin Loses 13% — Just a Dip or the Beginning of a Long-Term Correction?

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In Brief
  • Bitcoin has reached a long-term support area at $10,000.

  • Technical indicators show oversold conditions.

  • A likely target for the end of the correction is near $9,800.

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The Bitcoin price decreased by nearly 13% on Sept 3, reaching a long-term support level which is essential for the possibility of upward continuation. The price reached a major support area at $10,000. With the exception of the deviation on June 1, this area has previously acted as resistance since March and is now expected to act as support. Bitcoin Hits Oversold Levels While
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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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