Bitcoin price prediction: Two healthy resistance levels block BTC/USD from re-entering $10,500 zone

  • BTC/USD has had a bearish start to the day and is currently priced at $10,378.50.
  • BTC/USD has one strong support on the downside.

Bitcoin has had a bearish start to Friday following two bullish days in a row. BTC/USD has fallen from $10,435 to $10,378.50. The bulls ran out of steam as they failed to negotiate with the resistance at $10,500. This Thursday the price of BTC/USD spiked from $10,155 to $10,435. The hourly breakdown of Thursday shows that the bears had early control of the market, and they took the price down to $10,058. However, the bulls then stepped back in and took the price up to $10435. Currently, two resistance levels are stopping the price from re-entering the $10,500 zone. On the downside, there is a healthy support level at $10,345.

BTC/USD daily chart


The resistance levels are at $10,430 and $10,475. $10,430 has the 1-week Fibonacci 38.2% retracement level, while $10,475 has the 1-hour previous high, 4-hour previous high, 1-day previous high, 15-min Bollinger band upper curve, and the 1-month Fibonacci 38.2% retracement level.

On the downside, the $10,345 support level has the 100-day simple moving average (SMA 100), SMA 200 and 4-hour previous low.

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Top 3 price prediction Bitcoin, Ripple, Ethereum: Cryptos seeing multiple launches into the universe

The BTC/USD pair is currently trading at the $10.187 price level, the same price level as in recent weeks. The most serious difficulty for Bitcoin is the low volatility, after many days in the same price range, strength and speed indicators are at minimum levels. It will not be easy to start again.

More Bitcoin News

Ethereum (ETH) price analysis: ETH/USD settles above $200.00 amid altcoins'bull run

The second-largest cryptocurrency with the current market capitalization of $22.9 billion hit $215.18 during early Asian hours. While the coin has retreated to $212.40 by the time of writing, the upside momentum remains strong as the coin stays above a critical $200.00.

More Ethereum News

NEO price analysis: NEO/USD retreats from intraday high, upside momentum recedes

NEO is performing strongly on Wednesday. The 20th largest digital asset with the current market value of $69 million gained over 7% both on a day-on-day basis and moved nearly 3% higher since the beginning of the day.  At the time of writing, NEO/USD is changing hands at $9.80, off the intraday high of $9.87. 

More NEO News

TRON market update: TRX/USD tests DMA50 for the first time since July

TRON (TRX) is one of the best performing coins on Wednesday. TRX/USD has gained over 10% of its value to trade at $0.0178 by press time. While the coin has retreated from the intraday high ($0.0178), the upside momentum is still strong as TRX is moving in sync with the rest of the market. 

More Tron News


Bitcoin Weekly Forecast: Rangebound trading and September blues come upon the crypto market

Bitcoin finishes the week with marginal losses. The first digital currency recovered from the recent low of $9,886 but stayed in the red zone as of the end of the week.

Read the weekly forecast