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Bitcoin Price Analysis: Bitcoin stops just shy of the 10K mark

Bitcoin is trading over 3% higher but cannot test 10K.
The BTC/USD medium-term trend is still up but a break of the 8100.00 level could change that.

Rajan Dhall, MSTA FX Daily

BTC/USD daily chart

Bitcoin fell just short of hitting 10K on Thursday. It seems that the bulls just ran out of steam ahead of the psychological level. Looking at the long term trend on the chart the price will still need to break 10522.51 to make the pattern of lower highs become obsolete.

Looking closer at the technicals, the Relative Strength Index (RSI) indicator has pulled away from its recent peak. Now there is some room for a move to the upside again on the indicator. The price is still holding above the moving averages.

The key zone still remains to the high on the chart of 13868.34. Any break of the red resistance line could be a great indication that the price might reach there. The 62.8 Fibonacci extension level still looks hard to beat so over the next few sessions let's see if the bulls can gather enough momentum.

Additional levels

BTC/USD

Overview
Today last price	9651.04
Today Daily Change	332.83
Today Daily Change %	3.57
Today daily open	9318.21

Trends
Daily SMA20	8715.76
Daily SMA50	7601.18
Daily SMA100	7998.97
Daily SMA200	8034.11

Levels
Previous Daily High	9414.38
Previous Daily Low	8806.9
Previous Weekly High	10074.48
Previous Weekly Low	8535.49
Previous Monthly High	9476.83
Previous Monthly Low	6156.67
Daily Fibonacci 38.2%	9182.32
Daily Fibonacci 61.8%	9038.95
Daily Pivot Point S1	8945.28
Daily Pivot Point S2	8572.35
Daily Pivot Point S3	8337.8
Daily Pivot Point R1	9552.76
Daily Pivot Point R2	9787.3
Daily Pivot Point R3	10160.23

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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Additional levels

BTC/USD

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