Bitcoin Price Analysis: What BTC/USD needs to reclaim the ground above $10,000?

Bitcoin resurfaces above $9,800 following a steady recovery from lows of $9,500.
Bitcoin is technically ready to pull towards $10,000 but the momentum indicator shows that fundamentals are not supporting.

Spot rate: $9,770.52

Relative change: 70

Percentage change: 0.7%

Trend: Bullish

Volatility: High

BTC/USD daily chart

Bitcoin bulls fight the effects of the price sliding below a rising wedge pattern. Recovery from lows at $9,500 has been steady. However, the momentum appears to have fizzled out at $9,800. The possible cross of the 50-day SMA above the 200-day SMA could further cement the bulls’ position and influence over the price. In other words, bitcoin still has the potential to return above $10,000.

BTC/USD 4-hour chart

Bitcoin's immediate upside is capped by the 100SMA while the 50SMA will stand in the way of gains above $10,000. The slow stochastic oscillator suggests that the bulls are back in action. However, the momentum indicator signals that they still lack enough power to pull towards $10,000.

BTC/USD

Overview
Today last price	9783.91
Today Daily Change	83.94
Today Daily Change %	0.87
Today daily open	9699.97

Trends
Daily SMA20	9755.69
Daily SMA50	8816.25
Daily SMA100	8188.37
Daily SMA200	8884.61

Levels
Previous Daily High	9966.66
Previous Daily Low	9469.94
Previous Weekly High	10511.86
Previous Weekly Low	9707.96
Previous Monthly High	9568.13
Previous Monthly Low	6856.63
Daily Fibonacci 38.2%	9659.69
Daily Fibonacci 61.8%	9776.91
Daily Pivot Point S1	9457.72
Daily Pivot Point S2	9215.47
Daily Pivot Point S3	8961
Daily Pivot Point R1	9954.44
Daily Pivot Point R2	10208.91
Daily Pivot Point R3	10451.16

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