- BTC/USD may continue growing towards the next resistance of $9,600.
- The ultimate target of $10,000 is within reach now.
BTC/USD tested $9,500 during early US hours and settled at $9,450 by press time. The sustainable move above $9,300 improved the technical picture and opened up the way to the next resistance created by $9,500-$9,600 that separates the price from a straight move to $10,000. BTC/USD has gained over 2.5% in recent 24 hours, while its market share increased to 66.3%
The intraday chart shows that the RSI stays inside an overbought territory, though there are no signals of reversal as of yet. It means that the coin may repeat the attempt to break above $9,500-$9,600 in the nearest future.
BTC/USD 1-hour chart
Let’s have a closer look at support and resistance levels clustered around the current price.
$9,500 – 61.8% Fibo retracement weekly, Pivot Point 1-day Resistance 2
$10,000 – Pivot Point 1-month Resistance 1, the upper line of the daily Bollinger Band
$10,500 – Pivot Point 1-week Resistance 2
$9,300 – 38.2% Fibo retracement weekly, the middle line of the daily Bollinger Band, the highest level of the previous day
$9,000 - 38.2% Fibo retracement daily, 23.6% Fibo retracement weekly, 4-hour SMA10
$8,700 - 23.6% Fibo retracement monthly, Pivot Point 1-day Support 2
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.