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Bitcoin price prediction: BTC/USD crawls back above $10,000, bears are still at the helm  - Bitcoin confluence

  • BTC/USD is hovering above $10,000 amid intense bearish pressure.
  • The next critical support awaits BTC bulls on approach to $9,900.
Bitcoin price prediction: BTC/USD crawls back above $10,000, bears are still at the helm  - Bitcoin confluence
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst

Bitcoin (BTC) has been losing ground quickly. The first digital coin has lost nearly 8% in recent 24 hours amid a four-day long decline triggered by the technical correction from the multi-month highs.

Bitcoin confluence levels 

At the time of writing, BTC/USD is changing hands at $10,050. Despite the recovery from the intraday low of $9,711, the upside momentum remains too weak to allow for sustainable growth. Let's have a closer look at the barriers that might influence Bitcoin's movements in the short run.

Resistance levels

$10,300 - the highest level of the previous hour, the upper line of 15-min Bollinger Band.
$10,450 - 38.2% Fibo retracement daily, Pivot Point 1-week Support 2.
$10,750 -  61.8% Fibo retracement daily, the upper line of 1-hour Bollinger Band.

Support levels

$10,000 - the middle line of 15-min Bollinger Band, Pivot Point 1-day Support 1.
$9,900 - 61.8% Fibo retracement monthly.
$9,200 - Pivot Point 1-day Support 2.

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

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