Bitcoin technical analysis: Forget 20,000, is $10,000 achievable before December 31, 2019?

Bitcoin price continues to hand in the balance within a narrow range between $8,700 and $8,000.
Bitcoin’s ability to hold above $8,700 diminishes with each treading session since Monday.

Spot rate: $8,738

Relative change: -20

Percentage change: -0.23%

Volatility: Low

Trend: Bearish

BTC/USD daily chart

Bitcoin bulls must defend the falling wedge triangle support as if their lives depend on it.

The bearish cross with the MACD suggests that Bitcoin has a bearish bias in the short term.

BTC/USD 4-hour chart

The previous DMI signal was bearish while the DMI is trending sideways at 20, which suggests that BTC will continue trading sideways.

The MACD in this range has a bullish cross to show that the bulls are relatively in control.

BTC/USD 1-hour chart

With the 50 SMA below the 100 SMA bears are likely to hold the mantle longer than expected.

The resistance at $8,800 (100 SMA) must come down for trading above $9,000 to become a reality.

BTC/USD

Overview
Today last price	8741.67
Today Daily Change	-16.97
Today Daily Change %	-0.19
Today daily open	8758.64

Trends
Daily SMA20	8935.7
Daily SMA50	8534.03
Daily SMA100	9507.84
Daily SMA200	9214.25

Levels
Previous Daily High	8838.91
Previous Daily Low	8706.68
Previous Weekly High	9580.19
Previous Weekly Low	8668.6
Previous Monthly High	10484.7
Previous Monthly Low	7300.54
Daily Fibonacci 38.2%	8757.19
Daily Fibonacci 61.8%	8788.4
Daily Pivot Point S1	8697.25
Daily Pivot Point S2	8635.85
Daily Pivot Point S3	8565.02
Daily Pivot Point R1	8829.47
Daily Pivot Point R2	8900.3
Daily Pivot Point R3	8961.7

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