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Industry news:
On Tuesday, Feb. 11, pro-crypto presidential candidate Andrew Yang has dropped out of the 2020 race after a "bitterly disappointing" outcome in the New Hampshire primary where he trailed in a dismal eighth place.
Yang's campaign drew a lot of attention inside and out of the cryptocurrency space based on his pledge of a universal base income giving all Americans $1,000 a month to counter the effects of job redundancy through increasing automation.
Technical analysis:
BTC has been trading upwards. The price tested and rejected of the Pitchfork median line at the $10.500 and that was the key for the recent downside movement. I do expect few pivots to form around the Pitchfork median line.
Watch for selling opportunities and potential rotation down towards the $9.685 and $9.100.
MACD oscillator is showing decreasing on the buying power, which adds confirmation for further downside.
Major resistance is set at the price of $10.500
Support levels are seen at the price of $9.685 and $9.100InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
