BTC/USD stepped above $10,200 and extended the gains to $10,255 on Friday. Below $10,000 level, Bitcoin could easily gravitate towards $9,000. Bitcoin price is back above $10,000. The move from the recent low at $9,757 has brightened investors’ hope after Bitcoin plunged from levels marginally under $11,000. BTC/USD stepped above $10,200 and extended the gains to $10,255 on Friday. However, the buyers lacked the strength to sustain gains above $10,200. At press time, Bitcoin is trading at $10,196 while the downside is supported by the 50 Simple Moving Average (SMA) 1-hour. The analyst at CNBC, Brian Kelly is not convinced that Bitcoin has the ability to sustain the current uptrend. Kelly predicts that Bitcoin could be heading into a rough patch basing his argument on fundamentals. In fact, he said that Bitcoin got ahead of itself unsupported by fundamentals like the decreasing daily addresses. Confluence Levels The confluence detector tool foresees that BTC will run into resistance after breaking above $10,200. The initial hurdle that must cleared for the price to gain strength to assault other barriers is $10,268 – $10,374. Some of the indicators highlighted in this zone are the previous high 15-mins, previous high 1-hour, Bollinger Band 15-mins, Fibonacci 38.2% 1-week, SMA 200 1-hour and the Pivot Point 1-day R1. After correction above the tough zone, the only bump before $11,000 is $10,799. Converging here are the Fibo 61.8% 1-week, Pivot Point 1-day R3 and SMA 100 4-hour. On the downside, Bitcoin does not have many support areas. In fact, the only formidable support is $10,056. The support is made possible by the SMA 50 1-hour, previous low 4-h, SMA 200 15-mins, and SMA 10 4-hour. Below this level, Bitcoin could easily gravitate towards $9,000 and even refresh the support at $8,800. More confluence levels 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 USD/CHF technical analysis: Breaks below weekly ascending trend-channel support ahead of Powell FX Street 4 years BTC/USD stepped above $10,200 and extended the gains to $10,255 on Friday. Below $10,000 level, Bitcoin could easily gravitate towards $9,000. Bitcoin price is back above $10,000. The move from the recent low at $9,757 has brightened investors' hope after Bitcoin plunged from levels marginally under $11,000. BTC/USD stepped above $10,200 and extended the gains to $10,255 on Friday. However, the buyers lacked the strength to sustain gains above $10,200. At press time, Bitcoin is trading at $10,196 while the downside is supported by the 50 Simple Moving Average (SMA) 1-hour. The analyst at CNBC, Brian Kelly is not convinced… 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.