BTC/USD daily chart

BTC/USD daily chart

Gate Trade Bitcoin Monday, September 7, 2020 301 2

Bitcoin has failed to rebound sharply from the $10,000 level in the past three days, which suggests that the bears are selling on every relief rally.

 

This suggests that the sentiment has turned from buy on dips to sell on rallies.This is an important support to watch out for because if the price breaks and sustains below this level, the selling could intensify further. 

 

The next support on the downside is $8,000 and then $7,000.

However, if the pair rebounds off the current levels and rises above $10,625, a move to $11,000 is likely