- BTC/USD is consolidating losses after a strong sell-off during Asian hours.
- The critical resistance is seen on approach to $10,000-$10,000.
Bitcoin (BTC) dropped below critical $10,000 and touched $9,321 low during early Asian hours. Despite the recovery, the first cryptocurrency stays under pressure amid strong bearish sentiments. At the time of writing, BTC/USD is changing hands at $9,430, down 7% on a day-on-day basis and 3% since the beginning of the day.
Bitcoin confluence levels
Bitcoin bulls will have a hard time trying to take the price back above critical $10,000 and the way to the North is packed with strong technical levels. The downside now looks like a path of least resistance, however, $9,000 is likely to slow down the bears for the time being.
Let’s have a closer look at the barriers that might influence Bitcoin’s movements in the short run.
Resistance levels
$9,900 – the lowest level of the previous week;
$10,100 – SMA100 (Simple Moving Average) daily, 23.6% Fibo retracement monthly
$10,300 – SMA100 4-hours, SMA10 daily;
$10,550 – SMA50 daily, SMA200 4-hour, the middle line of 1-day Bollinger Band.
Support levels
$9,100 – the lowest level of the previous month
$8,600 – Pivot Point 1-week Support 3;
$8,400 – Pivot Point 1-month Support 1;
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