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Author Topic: [2018-05-09] Bitcoin Risks Drop Below $9K After 4-Day Low  (Read 10 times)
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May 09, 2018, 02:03:34 AM

Bitcoin dropped to four-day lows below $9,200 on Monday and now looks set to explore levels below the $9,000 mark, the technical charts indicate.

Yesterday's downwards move meant the cryptocurrency closed below the 10-day moving average (MA) - signaling short-term bullish invalidation - having failed to beat the key inverse head-and-shoulders neckline resistance over the weekend.

As of writing, BTC is trading at $9,357 on Bitfinex - largely unchanged on the day, but down 6.3 percent from the recent high of $9,990. Worryingly for the bulls, the price chart analysis indicates the losses could be extended further over the next 24 hours.

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