Bitcoin Loses Steam, Still Unable to Crack $10,450

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In Brief
  • Bitcoin is facing minor resistance at $10,450.

  • Short and medium-term technical indicators are showing both bullish and bearish signals.

  • The price is likely in wave 4 of a bearish five-wave formation.

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Bitcoin (BTC) has been increasing since reaching a local low of $9,825 on Sept 8. However, the price has been struggling to break out above a minor resistance area and the increase seems corrective in nature, making it more likely that the price will eventually make a lower-low. Bitcoin Creates Shooting Star Throughout the week, BTC has been rejected by the $10,450 area on multiple

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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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