Bitcoin Price Analysis: A move back below 10K is not the end of the world

• Bitcoin is trading 2.28% lower on Monday on a slow day for cryptocurrencies.
• The price has rejected the channel low but looks like it will close lower today.

BTC/USD Daily Chart

Bitcoin has fallen from grace in the past few sessions.

The pair has found support at 9,500 and bounced around $200.

The level has been used a few times on the chart to good effect.

If the price does close around these levels it could be bullish as the lows of 9,467.00 have been rejected.

Then an attach of the 10,500 level could be on the cards again.

This move lower does just look like a classic retracement and could be nothing to be worried about.

Additional Levels