- BTC/USD extends the decline and refreshes the intraday low.
- The next bearish aim is seen on approach to $9,500.
Bitcoin dropped below $10,000 handle and extended the decline towards $9,800. The downside momentum was gaining traction as the breakthrough below the critical level triggered stop-loss orders on short-term speculative positions and attracted new sellers to the market.
Looking technically, the initial resistance is created by the lower boundary of 15-min Bollinger Band on approach to $9,900. However, the ultimate barrier comes at $10,000. This psychological area is followed $10,300 (SMA50 and the middle line of Bollinger Band on 15-min chart).
On the downside, a sustainable move below $9,800 will open up the way towards the next bearish aim of $$9,500.
BTC/USD, 15-min chart
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