Bitcoin recovers from the dip below $10,000 but fails to hold above $10,200. The main support around $9,200-$9,400 is bound to be tested as long as BTC stays below the resistance at $10,436. The Asian session on Wednesday has been extremely volatile as Bitcoin extended the bearish price action witnessed in the American session on Tuesday. BTC commenced the session at $10,094.44 before ascending to intraday highs of $10,274.23. Unfortunately, lack of credible support and bear sloth on a mission sent the crypto back to $10,0051.13 (intraday low). Note this followed a shallow recovery from a dive to $9,934 (Tuesday low). The price is trading below the simple moving averages in the 4-hour time frame. The 100 SMA limiting movements at $10,150 while the 50 SMA will hinder growth at $10,457. As mentioned in yesterday’s price prediction, $10,436 is the most significant resistance that must be cleared for Bitcoin to witness formidable gains towards $11,000. The Moving Average Convergence Divergence (MACD) has extended the downtrend below the mean line. The visible negative divergence below the MACD shows that selling activity is at its pick in the current session. Moreover, the Elliot Wave Oscillator has recorded six bearish sessions from the last bullish session yesterday. The formation of another bearish session could stir declines towards the main support, $9,200-9,400. BTC/USD 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/USD in stasis ahead of the ECB’s rate decision FX Street 4 years Bitcoin recovers from the dip below $10,000 but fails to hold above $10,200. The main support around $9,200-$9,400 is bound to be tested as long as BTC stays below the resistance at $10,436. The Asian session on Wednesday has been extremely volatile as Bitcoin extended the bearish price action witnessed in the American session on Tuesday. BTC commenced the session at $10,094.44 before ascending to intraday highs of $10,274.23. Unfortunately, lack of credible support and bear sloth on a mission sent the crypto back to $10,0051.13 (intraday low). Note this followed a shallow recovery from a dive to $9,934 (Tuesday… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
