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Bitcoin Price Analysis: Bitcoin faces a downward correction, goes below $10,500, 14th August

Bitcoin is trading at $10,486, which shows that it is still in a downward correction. Its the middle of the week and Bitcoin
Bitcoin is trading at $10,486, which shows that it is still in a downward correction. Its the middle of the week and Bitcoin price has been showing a downward trend.

Bitcoin price on 13th August reached $10,733, and since then it has been bearish. Bitcoin is trading at $10,534, which shows that it is still in a downward correction. Its the middle of the week and Bitcoin price has been showing a downward trend.

The support level at this point for Bitcoin is set to be below $10,300. The resistance level for Bitcoin price is set at $10,792, but the charts are showing a downward correction for the rest of the day.

The RSI that was at 50% yesterday has gone down to 31% today. Since yesterday we have seen a drop of 3.3% in Bitcoin price, making it a loss of 7.1% this week alone. Resistance level for this has been set up to $10,900, and the support level has further decreased to $10,300, and below this, the downward correction for Bitcoin price might test $9800 support level at the end of this week.

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