Bitcoin price analysis: BTC/USD resumed the downside despite the happy end of the Binance hack

Binance chased down the hackers and returned the money to the owners.
BTC/USD is falling again, Wednesday's low $9,444 is back in focus.

Tanya Abrosimova Independent Analyst

Bitcoin price is falling again after a short-lived recovery. BTC/USD is trading at $9666.00 currently, after having touched the lowest level for the recent ten days.

As we have reported earlier, Bitcoin dropped like a stone on talks hat Binance, largest cryptocurrency exchange by trading volume was hacked. The rumors proved to be true, but the company managed to spot the irregular trades and return the funds to the affected accounts.

"Binance has reversed all irregular trades. All deposit, trading, and withdrawal are resumed. will write a more detailed account of what happened shortly. Interestingly, the hackers lost coins during this attempt. We will donate this to Binance Charity" - Binance’s CEO, Changpeng Zhao comments on the official Twitter account of the exchange.

Bitcoin price technical picture

BTC/USD recovery stopped short of $10,000 resistance level. The coin is moving quickly towards Wednesday's low of $9,444 which serves as the local support. Once it is broken, the sell-off may get traction and take BTC to the next key level $9,000 with 200-DMA at $8.920.

On the upside, $10,000 is the first target for the Bitcoin bulls followed by $10,266 (50% Fibo).

BTC/USD, the daily chart

Author

Tanya Abrosimova

Independent Analyst

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