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Bitcoin Price Analysis: Bitcoin has rejected 10K again but what are the technicals telling us?

Bitcoin is trading 0.43% lower as the bulls take a break and buying pressure eases.
Now the price has consolidated and it will be interesting if the price will form a base around 10K.

Rajan Dhall, MSTA FX Daily

BTC/USD 1-Hour Chart

Looking at the chart below you can see the main resistance holds at 10,522.51.

Beyond that 10K has been doing a good job as a support level.

On the top of the current wave, 10,300.00 is the level to watch out for.

If we break that then the chances of testing the recent highs are much better.

The overall concern is that this new formation is a lower high wave. So if 10K breaks that will confirm this and we could be in for a deeper pullback.

Additional Levels

BTC/USD

Overview
Today last price	10131.61
Today Daily Change	-55.44
Today Daily Change %	-0.54
Today daily open	10187.05

Trends
Daily SMA20	9800.71
Daily SMA50	8875.66
Daily SMA100	8202.14
Daily SMA200	8887.59

Levels
Previous Daily High	10285.3
Previous Daily Low	9610.33
Previous Weekly High	10511.86
Previous Weekly Low	9707.96
Previous Monthly High	9568.13
Previous Monthly Low	6856.63
Daily Fibonacci 38.2%	10027.46
Daily Fibonacci 61.8%	9868.17
Daily Pivot Point S1	9769.82
Daily Pivot Point S2	9352.6
Daily Pivot Point S3	9094.86
Daily Pivot Point R1	10444.79
Daily Pivot Point R2	10702.52
Daily Pivot Point R3	11119.75

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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BTC/USD 1-Hour Chart

Additional Levels

BTC/USD

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