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Bitcoin Price Analysis: BTC/USD rockets back above the big $10,000 mark

  • Bitcoin price is trading in positive territory, up 3.40% in the second half of the session. 
  • BTC/USD is heading back for another purposeful retest of the barrier at $10,500. 
  • The price managed to stage a rebound, after receiving support at the round figure of $9500.
Bitcoin Price Analysis: BTC/USD rockets back above the big $10,000 mark
Ken ChigboKen ChigboIndependent Analyst

BTC/USD daily chart

Support was found by a running ascending trend line, as the bulls look for another attempt at $10,500. 

                     

BTC/USD 60-minute chart

A chunky bounce was seen at $9500, where decent support psychologically was noted. Price action has also smashed back above a descending trend line, allowing for greater upside momentum. 

Spot rate:                 10,030.00

Relative change:     +3.40%

High:                         10,040.20

Low:                          9,610.33

BTC/USD

Overview
Today last price9970.89
Today Daily Change270.92
Today Daily Change %2.79
Today daily open9699.97
 
Trends
Daily SMA209755.69
Daily SMA508816.25
Daily SMA1008188.37
Daily SMA2008884.61
 
Levels
Previous Daily High9966.66
Previous Daily Low9469.94
Previous Weekly High10511.86
Previous Weekly Low9707.96
Previous Monthly High9568.13
Previous Monthly Low6856.63
Daily Fibonacci 38.2%9659.69
Daily Fibonacci 61.8%9776.91
Daily Pivot Point S19457.72
Daily Pivot Point S29215.47
Daily Pivot Point S38961
Daily Pivot Point R19954.44
Daily Pivot Point R210208.91
Daily Pivot Point R310451.16

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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