- Bitcoin’s chance of hitting $10,000 in jeopardy as traders fail to gather enough trading volume to sustain gains.
- The significant hurdle at $9,937 continues to give buyers a hard time in the battle to reclaim the ground above $10,000.
Bitcoin price has showcased its bullish strength following a break above the stubborn resistance at $9,900. The move also opened the road for gains, eying $10,000. Meanwhile, an intraday high has been formed at $9,977. The prevailing trend is bullish but due to the shrinking volatility, further advancement may remain a pipe dream. For now, the price is trading at $9,883 after a minor retreat. Gains above $9,900 as well as higher support would increase the chances of trading above $10,000 before the weekend.
From a technical perspective, Bitcoin is ready to bring down the resistance at $10,000.The gap the 50-day SMA is making above the MACD suggests that the king of cryptocurrencies is in the bulls’ hands. Moreover, the sideways moving RSI is inclined upwards, an indication that buyers are still in control. If a breakout fails to come into play, there is a chance that consolidation will continue to take precedence in the short term. The MACD puts emphasis on the consolidation with its horizontal motion at the mean line (0.00).
BTC/USD daily chart
-637274468529566647.png)
Bitcoin daily confluence support and resistance levels
Resistance one: $9,937 – This zone is highlighted by the Fibo 38.2% one-day, the previous high 15-minutes, the Bollinger Band 15-minutes middle curve, SMA ten 15-minutes and the previous high 1-hour.
Resistance two: 10,040 – Highlights the previous low 1-hour, the Bollinger Band 15-minutes lower curve, SMA 50 15-minutes and the previous low 4-hour.
Resistance three: $10,143 – This zone is home to the previous month high.
Support one: $9,835 – Highlights the SMA ten 4-hour, Fibo 61.8% one-day, the Bollinger Band 1-hour and the SMA five 4-hour.
Support two - $9,732 – Home to the SMA 200 1-hour, Fibo 38.2% one-week and SMA 100 1-hour among others.
Support three: $9,629 – Hosts the Fibo 23.6% one-month and the pivot point one-day support two.
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto traders brace for short-term volatility with $2.4 billion options expiry on Friday
Bitcoin and Ethereum options market looks bullish on Friday, according to data from intelligence tracker Greeks.live. The firm said it has identified two Bitcoin calls that show an underlying bullish sentiment among market participants.
XRP recovers from week-long decline following Ripple’s response to SEC motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.
Lido adds 4% gains as protocol rolls out first step towards decentralization
Lido takes the first batch of simple DVT validators to live, a step taken to decentralize the protocol. Lido leveraged technology to expand the protocol to multiple node operators, inviting both solo and community stakers.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Bitcoin: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.