Bitcoin Clings to $10k After Blistering Selloff - Price Analysis

The bleeding seems to have been stymied, for now, after Bitcoin’s (BTC) brutal selloff from a rejection at $12,000 is being held around $10,000. Buyers stepped in to push the crypto back above the key psychological mark, after BTC sold all the way down to $9,400.

Looking first at the 12-hour chart, we see buyers pouring in to keep the crypto safely above $10,000 (or short-sellers taking profit). A deep buy wick signals this, as does the highest volume bar in the last few days. It is no surprise that price held first at $9,400, as this has been a key level during the present market structure, during July especially.

If price holds here, we can eject the brief fall to $9,400 from our analysis of the market structure as only a brief period of noise. Although scary, only significant candle closes on key time periods - like the daily, or 4-hour - count in our analysis. This rapid reclaiming of $10,000 is certainly auspicious of it holds. Read More at CryptoGlobe...

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