BTC/USD technical analysis: Bitcoin rejects lower levels today
|- BTC/USD has rejected downside levels today as 10k remains the main support.
- Bitcoin could hit 10,500 again if there is a conclusive break above 10,382.00
On the intraday timeframe, BTC/USD has rejected lower levels twice in today's session. The areas marked by arrows on the chart shows where today's main volume kicked in and recently we have just had an upside break.
The RSI indicator has also just broken above the 50 midline after not being able to reach the oversold zone.
Today BTC/USD is still down 0.84% but it remains resilient.
On the volume profile indicator on the left-hand side the main value level is at 10,328.00. Keep an eye out of this level as if there is a rejection there it could show us that the move back up was a mean reversion phase.
If BTC/USD conclusively brakes above 10,328.00 then 10,500.00 could be the right target.
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.