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Bitcoin holds 10,500-10,800 weekend range

27 Sep, 2020

The more positive end to last week for the US equity markets and a slight lift in the EUR/USD on Friday evening offered some positivity for Bitcoin in weekend trading. However, the lead cryptocurrency has not really gone anywhere of note, holding mostly inside a 10,500-10,800 range. The price has several times to break above 10,800 this weekend, but so far it has not managed to make a sustained rise above that level. The high posted on Saturday was set at 10,826. Earlier to day it backed off to touch 10,600, but has rebounded slightly again since and is currently trading around 10,725 heading into the Asian opening this evening. The outlook for the price action this week is rather uncertain and the risk of deeper decline through 9850 remains elevated, unless it can sustain a rebound above 11.100 once again

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