Bitcoin continues to trade sideways

5 September, 2019

On Thursday, the leading cryptocurrency Bitcoin (BTC) continues to trade sideways within a narrow trading range of 10,650 – 10,350. The pair continues to eye $11,000, with mostly registering minor gains on the day. 

Bitcoin (BTC) price was testing support at $10,500 on Sept. 4 after its latest move upwards began to stabilize. After displaying an extraordinary price movement of violating 9890 on Wednesday, the Bitcoin is holding in a narrow range of 10,750 to 10,350. 

Speaking about the technical side, the BTCUSD is likely to go after 11000 levels, but before this, we may experience a slight bearish retracement in Bitcoin, and that’s exactly what BTC is doing right now.

The RSI and Stochastics, both of the leading indicators have come our of the bullish zone; in fact, it’s entering the oversold zone now. Investors seem to have done doing profit takings; we may experience a continuation of a bullish trend now.