Bitcoin is gaining bullish momentum above $10,300 against the USD.
There are three significant areas of support at $10,000, 9,400, and 9,000 – 9,400 stands out.
There is sideways trending as observed with the Relative Strength Index and Moving Average Convergence Divergence.
Bitcoin is trading between the Simple Moving Averages support and resistance. The 100 SMA on the four-hour chart is offering support at $10,149 while on the upside the 50 SMA will limit movement at $10,364.
BTC/USD four-hour chart
Despite correcting from the intraday high at $10,473, the main trendline clearly shows an up-trending market. In case Bitcoin extends the correction to lower levels, $10,200 is in line to offer support. Other important support areas include $10,000, $9,000 as well as the primary support at $9,400.
Bitcoin will likely consolidate between $10,300 and $10,400 in the coming sessions according to the sideways trend observed with Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD).
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.