FX.co - BTC analysis for September 11,.2020 - Watch for the downside cycle and potential drop towards $9.100

2020-09-11T11:07:14

Relevance until2020-09-13

Further Development

BTC analysis for September 11,.2020 - Watch for the downside cycle and potential drop towards $9.100

Analyzing the current trading chart of BTC, I found that there is potential for the drop towards the levels at $9,130 and $8,400

The price got rejected of the multi-day resistance at $10,500, which si good sign for the downside continuation.

In the background, I found that breakout of the rising trend line, which is another indication of the weakness.

Watch for selling opportunities on the rallies with the downside targets at $9,130 and $8,400

Key Levels:

Resistance: $10,500

Support levels: $9,130 and $8,400

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ BTC analysis for September 11,.2020 - Watch for the downside cycle and potential drop towards $9.100