Bitcoin Price Analysis: BTC/USD retesting a critical daily support which must hold

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  • Bitcoin price is trading in positive territory, down 0.40% in the second half of the session. 
  • BTC/USD have enjoyed a strong push to the upside over the last two sessions, now seeing a minor pullback.
  • The price has been dealt with a minor knockback from resistance observed at $10,500.

BTC/USD daily chart

Price action is retesting a critical near-term daily support at around $10,180, which must hold in order to maintain upside pressure. 

                     

BTC/USD 60-minute chart

The price has been sucked back within a narrowing range block formation via the 60-minute. 

Spot rate:                10,270.20

Relative change:     -0.40%

High:                        10,511.86

Low:                         10,080.12

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