Bitcoin: Bulls Targeting the 10,000 Mark

Βitcoin – BTCUSD trading 0.66% higher at 9,832 as the cryptocurrency tries to regain the 10,000 mark. BTCUSD capitalization now stands over 176.6 billion while the market capitalization of the top 100 cryptocurrencies stands above 253.4 billion, today’s BTC volume is 12.6B.

The BTCUSD technical analysis picture is neutral, the last trading sessions BTC trades below the 100 day moving average around the 10,000 mark. Immediate support for bitcoin stands at 9,514 the low from August 15th and then at the established strong support at 9,250 zone. On the upside, strong resistance now stands at 9,865 today’s high, while I expect extra pressure from sellers at 10,800 the high from August 21st.  Bulls will add to long positions if BTC breaks above 10,215, the take profit target must be set at 11,000 while a protective stop might be placed at 10,000. Bears can take a bet and enter a short position if BTC close below 9,753 today’s low, Shorts can target the strong support zone at 9,250, while a stop loss order could be placed at 10,000.Don’t miss a beat! Follow us on Telegram and Twitter.

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