Bitcoin recovers and shows positive signs above the $ 9,700 level against the US dollar. It is likely that BTC price exceeds $ 10,000 as long as it is greater than the SMA of 100.
- Bitcoin corrects higher and recently cleared the resistance zone of $ 9,740.
- The price even exceeded the level of $ 9,800 and reached $ 9,884.
- A bullish continuation pattern is formed with resistance close to $ 9,850 on the hourly chart of the BTC / USD pair (data from Kraken).
- The pair could climb above $ 9,880 and $ 9,950 as long as it is above the support of $ 9,680.
Bitcoin price could rebound again
After forming a decent support base above $ 9,400, the price of bitcoin began to rise again against the US dollar. The BTC has passed resistance levels of $ 9,600 and $ 9,740 to enter a positive zone.
It even established itself above the level of $ 9,700 and the simple moving average of 100 hours. Additionally, there was a break above a key bearish trend line at $ 9,690 per hour. graphic del by BTC / USD.
Bitcoin price
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He opened the doors for more profits and the price reached $ 9,884. Currently, Bitcoin is consolidating its earnings and operating near the $ 9,800 level. He tested the Fibonacci retracement level of 23.6% from the recent wave, from the lowest of $ 9,469 to $ 9,884.
A bullish pursuit pattern with resistance close to $ 9,850 is also forming on the same graph. If there is an upside break above the triangle resistance, the price could accelerate above the $ 9,900 and $ 9,950 levels.
The first major resistance is close to the $ 10,000 level, above which there are chances of further gains towards the resistance levels of $ 10,400 and $ 10,500 in the short term.
Another drop in BTC?
On the downside, the first key support is located near the trend line of the triangle at $ 9,780. If the price of bitcoin does not further increase, it could correct below $ 9,780. The next major support is seen near the $ 9,680 level and the 100-hour simple moving average.
The Fibonacci retracement level at 50% of the recent wave, from the lowest of $ 9,469 to $ 9,884, is also close to $ 9,677. Any further loss could cancel the current uptrend and the price could fall towards the support zone of $ 9,400.
Technical indicators:
Hourly MACD – MACD is struggling to gain bullish momentum in the bullish zone.
Hourly Relative Index (RSI): The RSI for BTC / USD is now moving well above the 50 level.
Main levels of support: $ 9,780 followed by $ 9,680.
Major resistance levels: $ 9,880, $ 9,950 and $ 10,000.
¡¡¡Bitcoin to the MOON!!!
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