Cryptocurrencies
Bitcoin Drops From $10,000 While Technicals Point to Pain Ahead
- Cryptocurrency finds resistance after breaking key level
- According to relative strength index, it is also overbought
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Euphoria around Bitcoin’s break above $10,000 over the weekend appears to be short-lived.
The largest cryptocurrency found resistance just above that level, reaching as high as $10,194 on Sunday before pulling back, according to data compiled by Bloomberg. It similarly struggled with that level in September when it crossed $10,000 -- the month that followed saw it lose more than 14%.