THESE 3 TECHNICAL SIGNS SHOW BITCOIN COULD SOON REVERSE LOWER

THESE 3 TECHNICAL SIGNS SHOW BITCOIN COULD SOON REVERSE LOWER

Gate Trade News Friday, September 18, 2020 30 1

Bitcoin has surged higher since bottoming last week under $10,000.

The coin now trades for $10,850, slightly shy of the local highs at $11,150.

 

BTC seemingly remains in a bull trend as it holds above the pivotal $10,500 support.$10,500 has long been an important level for Bitcoin, acting as a point at which three separate rallies have topped over the past year.

 

Despite the price action, three technical signs show that a near-term reversal is likely.The reversal will likely drive the cryptocurrency towards the low-$10,000s once again.

 

Most assert that Bitcoin remains in a long-term bull trend, though, citing technical and fundamental trends.