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Bitcoin price is likely to see new lows below $10000

Bitcoin price has seen a rebound back to the fourth quarter of ten thousand dollars ($10,000) region falling short of the eleven thousand dollars mark ($11,000).

This occurred right after dipping low to the nine thousand four hundred dollars ($9,400) just as September began. Bitcoin (BTC) has thus been on the decline in a falling wedge pattern and is thought to repeat history.

Bitcoin price analysis: Short-term

The falling wedge starts in the short-term chart right after the instance Bitcoin price rose to the near- eleven thousand dollars ($11,000) mark.

The relative strength index (RSI) could use some push as it maps low lowers on the chart for the last ten (10) days.

Bitcoin price chart by Trading View

Bitcoin price is not bearish because the price hasn’t seen an abrupt downfall and…

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