Bitcoin Slides Back Below $10K Amid Quick Bearish Sell-Off
Bitcoin has dipped back below the psychological area of support near the $10,000 level amid a 20-minute sell-off.
Bitcoin has formed a bearish head-and-shoulders pattern with neckline support at $9,400.
Bitcoin needs to break past the session high of $10,028 to revive the immediate bullish setup.
The stage looks set for a further drop to below $9,000, albeit after a minor bounce.
Bitcoin's daily money flow index has turned bearish for the first time since early January, supporting the case for further price losses.
Bitcoin took its biggest daily fall in three months on Wednesday, but prices remain in the bullish zone for now.