The price failed to stay above $10'000 and even dropped below $9'500. Did the trend change?
Actual support/resistance: $9'500/$10'000
The support of $9'500 has been broken but the price corrected higher quickly after. Again, we are witnessing a period of high volatility. We shall remember that Bitcoin has undergone even stronger corrections in its history while staying in a bullish market. Up to a drop to $8'000 we would still be within the range of the previous losses. If we do not see a recovery in the short term, Bitcoin could continue to weaken for a while. This would still be considered as a healthy and normal move.
The altcoins are suffering even greater losses and struggle to follow when uptrends appear. This is more concerning, as it may reduce the diversity of altcoins but can also filter out "useless" coins.
Technical indicators continue to signal a downtrend with no sign of change for the Bitcoin.
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