Home Bitcoin price analysis: BTC/USD may be facing correction as price crosses $10,000
Crypto News

Bitcoin price analysis: BTC/USD may be facing correction as price crosses $10,000

FX Street
Published date:
  • The price has gone up from $9,535 to $10,225 this Friday.
  • Technical analysis shows that bearish correction may be around the corner.

BTC/USD price has gone up from $9,535 to $10,225 this Friday. In the early hours of Saturday, the price has gone up further  to $10,230. Towards the end of Friday, BTC/USD shot up from $9,915 to $10,225 within one hour. Technical analysis shows that bearish correction may be around the corner.

BTC/USD daily chart

BTC/USD has crept out of the upper curve of the 20-day Bollinger band, which suggests that it is over-valued. The widening of the Bollinger band shows increasing market volatility. The market is trending above the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curve. This Friday’s session broke past resistance levels at $9,845, $10,025 and $10,175.  

The moving average convergence/divergence (MACD) indicator has had eight bullish sessions in a row with increasing intensity. The Elliot oscillator has had 11 straight bullish sessions and the relative strength index (RSI) indicator is trending in the overbought zone at 76.56.

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.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2026