Home Bitcoin price prediction: BTC/USD take pains to stay above $10,000  – Bitcoin confluence
Crypto News

Bitcoin price prediction: BTC/USD take pains to stay above $10,000  – Bitcoin confluence

  • BTC/USD stays dangerously close to a critical support level.
  • The critical resistance is seen on approach to $10,200.

Bitcoin (BTC) has been hovering around $10,000 handle on Wednesday. Several attempts to take the price lower failed as buyers popped in each time the price touched the area below the critical support. BT/USD stays unchanged both on a day-on-day basis and since the beginning of the day.

Read also:  

Bitcoin confluence levels  

There are quite a number of technical levels above the current price, which means that Bitcoin is vulnerable to new losses. The downside looks like a path of least resistance at this stage; however, lack of follow-through on the way down may discourage bears.  

Let’s have a closer look at the barriers that might influence Bitcoin’s movements in the short run.

Resistance levels

$10,200 – SMA10 (Simple Moving Average) four-hour, SMA100 four-hour, the middle line of daily Bollinger Band.
$10,500 – SMA50 daily, SMA200 four-hour, 38.2% Fibo retracement weekly;
$10,600 – 161.8% Fibo projection, 23.6% Fibo retracement weekly.

Support levels
$10,000 -23.6% Fibo retracement daily and monthly, a host of short-term SMA levels;
$9,500 – Pivot Point one-week Support 1;
$9,300 – the lowest level of the previous month.
 

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.