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Bitcoin technical analysis: BTC/USD slips back below $10,000

  • Bitcoin is trading in positive territory, holding gains of some 2.20% in the second half of Thursday.
  • BTC/USD has been fighting to break back above the psychological $10,000 mark, not having enough juice to do so at present. 
  • The price continues to remain vulnerable underneath the $10,000 area. 
Bitcoin technical analysis: BTC/USD slips back below $10,000
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  9995.00

Relative change:      +2.40%

High:                         10,187.00

Low:                          9734.19

BTC/USD 60-minute chart

  • Price action broke out to the downside, following a range escape. It was trading within a narrow range of $200 for most of the session. 

Chart to follow.

BTC/USD daily chart

  • Big resistance now observed at the $10,00 price area, causing issues for bulls.

Chart to follow.

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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