Bitcoin price achieves good gains – Analysis - 20-09-2019

Bitcoin price rallied to the upside strongly yesterday evening to approach from 10500.00$ barrier, but it returns to decline to move near the intraday bearish channel’s resistance, keeping the overall bearish trend scenario active in the upcoming period, supported by stochastic approach from the overbought levels, waiting for more of the downside moves to test 9855.80 level initially.

Note that breaking the targeted level will push the price to 9390.00 as a next main station, while breaching 10600.00 will stop the negative scenario and pushes the price to achieve more of the gains on the intraday and short term basis.

The expected trading range for today is between 9700.00 support and 10600.00 resistance

The expected trend for today: Bearish