Bitcoin Manages to Hold Above $10,000, But Is the Correction Complete?

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In Brief
  • Bitcoin is trading inside the long-term $10,100 support area.

  • The price has created a short-term double-bottom.

  • BTC looks to have completed wave 4 of a bullish five-wave impulsive formation.

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The Bitcoin (BTC) price decreased by 12.30% during the week of Aug 31-Sept 7. It has reached a major long-term horizontal and Fibonacci support level, which may be enough to initiate a reversal. Bitcoin Rests at Weekly Support The Bitcoin price decreased considerably last week, creating a bearish engulfing candlestick and closing -12.30%. The price has fallen back to the $10,100
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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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