Over the last 3 Days, Bitcoin has dropped around $1,000 forming a tight descending channel. Bears are struggling to gain any momentum as price levels toy with key support around $9,850 as mentioned in my previous analysis. Bitcoin Hourly Chart On the 1 hour chart, we can see the newly formed descending channel as a result of the recent move from $11,000 down to around $9,900 just above key support at $9,850. POC (Point ofRead MoreThe post Bitcoin Price Analysis: $9,800 Support Stops Price Freefall appeared first on Bitcoinist.com.
