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

Spot rate: $9,770.52

 Relative change: 70

Percentage change: 0.7%

Trend: Bullish

Volatility: High

BTC/USD daily chart

BTC/USD price 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

BTC/USD price 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 price9783.91
Today Daily Change83.94
Today Daily Change %0.87
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

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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