Bitcoin price prediction: BTC/USD clinches to $10,000 amid growing bearish pressure - Bitcoin confluence
|- BTC/USD consolidates at the critical barrier $10,000
- The strong resistance awaits BTC bulls on approach to $10,450.
Bitcoin (BTС) is changing hands marginally below $10,000. The first digital coin has lost over 3% since the beginning of the day and stayed amid increased bearish pressure. The price attempted to break above $11,000 on July 20, but the upside momentum failed to gain traction.
Bitcoin confluence levels
The Bitcoin (BTC) price is hovering around $10,000 with a bearish bias. The way to the South seems to be the path of least resistance as the area above the current price is packed with strong technical levels.
Let's have a closer look at the barriers that might influence Bitcoin's movements in the short run.
Resistance levels
$10,200 - the middle line of 1-hour Bollinger Band, 23.6% Fibo retracement daily, SMA50 (Simple Moving Average) 15-min chart;
$10,450 - SMA10 4-hour, SMA50 1-hour, 61.8 Fibo retracement daily;
$10,700 - the highest level of the previous day
Support levels
$9,650 - 23.6% Fibo retracement weekly;
$9,300 - Pivot Point 10week Support 1;
$9,100 - the lowest level of the previous week.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.