Bitcoin price prediction: BTC/USD clinches to $10,000 amid growing bearish pressure - Bitcoin confluence
- BTC/USD consolidates at the critical barrier $10,000
- The strong resistance awaits BTC bulls on approach to $10,450.
Bitcoin (BTС) is changing hands marginally below $10,000. The first digital coin has lost over 3% since the beginning of the day and stayed amid increased bearish pressure. The price attempted to break above $11,000 on July 20, but the upside momentum failed to gain traction.
Bitcoin confluence levels
The Bitcoin (BTC) price is hovering around $10,000 with a bearish bias. The way to the South seems to be the path of least resistance as the area above the current price is packed with strong technical levels.
Let's have a closer look at the barriers that might influence Bitcoin's movements in the short run.
Resistance levels
$10,200 - the middle line of 1-hour Bollinger Band, 23.6% Fibo retracement daily, SMA50 (Simple Moving Average) 15-min chart;
$10,450 - SMA10 4-hour, SMA50 1-hour, 61.8 Fibo retracement daily;
$10,700 - the highest level of the previous day
Support levels
$9,650 - 23.6% Fibo retracement weekly;
$9,300 - Pivot Point 10week Support 1;
$9,100 - the lowest level of the previous week.
Author
Tanya Abrosimova
Independent Analyst
