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The Bitcoin price line varied above the $10440 mark through most of the 24-hour trade. The price observed another abrupt fall below the $10200 level just before closing the day. On the previous day, the cryptocurrency king moved towards the $10400 level.
Bitcoin price movement in the last 24 hours
The BTC price was observed at $10294.13 US Dollars at the time of writing on Bitstamp. The price was observed at a day’s low of $10261.07.
BTC falls below $10400 support
The Trading View analyst Atlas Trades is of the opinion that the BTC price will rise towards the $10800 resistance soon.
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On the 22nd of September, the cryptocurrency king fell below the $10400 support that was marked by the crypto analyst on the idea chart above. The cryptocurrency had been trading above this support ever since its price fell on the 21st of September. Per the analyst, the cryptocurrency was supposed to see a pullback towards the support level and then rise back to the $10800 resistance. Currently, the price has broken below the $10400 support. A price closure below the support level will invalidate this idea.
Bitcoin breaks below symmetrical triangle
The Trading View analyst Romeo Deris also believed that the BTC price will see an uptrend past the $10800 resistance. The analyst highlighted a symmetrical triangle on the 1-hour chart for the BTCUSD trading pair.
The BTC price broke below the $10800 resistance on the 21st of September and entered a symmetrical triangle. Per the chart above, the BTC price has been varying near the lower boundary of the triangle pattern ever since it began trading inside it. The analyst was of the opinion that the price will break above the upper boundary of the symmetrical triangle, and then it will turn bullish.
Per the idea, the bullish momentum was supposed to allow the cryptocurrency to move towards the $10850 resistance and breakthrough that as well. The breakout of the $10850 resistance was expected to be followed by a pullback, and then another run towards the next resistance, that lies near $11040. On the 23rd of September, the BTC price broke below the $10300 support level. This idea may be invalidated soon.
Will BTC price return above $11000?
The Trading View analyst Solldy is of the opinion that the BTC price will soon bounce of the support level and rise towards the $11120 resistance.
The analyst showed in their idea that the BTC price will soon bounce from the $10400 support level that it has been trading near ever since it fell on the 21st of September. The cryptocurrency is expected to test the $11120 resistance.
What’s next for Bitcoin?
The Trading View analyst Rev Daily Traders believes that the BTC price has recently broken below a rising wedge pattern, and that it will soon see another breakout below an ascending trend line. This breakout may lead the price below the $9000 mark.
The cryptocurrency entered the rising wedge pattern after it fell from above the $12000 mark on the 3rd of September. The BTC price broke below this ascending wedge on the 21st of September and move towards another, smaller, trendline on which it has been trading for the past two days. Per the analyst, the king of cryptocurrency is supposed to break below this rising trend line as well and then fall towards the $8800 level.
Disclaimer: The information provided is not a trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
