Bitcoin price stumbles to 10-day low as the new week gets underway

<p>Bitcoin is down 1.6% to start the new week.</p><p>That's a negative sign for broad risk appetite, even if it's not yet shown up elsewhere. Bitcoin moves at time precede equity moves.</p><p>By the same measure, bitcoin has previously held up strongly despite a poor run from stock markets this month. The S&amp;P 500 traded on Friday to the lowest since June while bitcoin still has some breathing room above the September low near $25,000.</p><p>That said, bitcoin moves happen fast and it's worth keeping a close eye on this one. It's an extremely technical asset and the break of the neckline from the mid-September lows creates something of a head-and-shoulders pattern that targets a retest of $25,000.</p><p>Bitcoin last traded at $26,021 as the big figure holds so far.</p>

This article was written by Adam Button at www.forexlive.com.