Price Analysis

Bitcoin Price Analysis: Bitcoin Battles with Bears Near $10,100, Faces Hurdles

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  • Today morning price actions of BTC shows bullish signs, trades above $10,000
  • The coin sees turbulence over the last 4 hours, Bitcoin is facing hurdles near $10,100
  • The coin is trading under selling pressure, a weekly close above $11,000 awaited

Today Bitcoin appears to have tapped on bullish phase as the coin has been trading above $10k since the morning, whereas yesterday the leading crypto coin was hovering around $9700 to $9800. The price rise has put a significant impact over the market as the total market capitalization of the crypto market has also uplifted. However, in the last 4 hours, the BTC price has gone through a bit of turbulence.

4 hours ago, the coin was at $10,080.37, later, it tumbled at $10,050.69 and corrected up. The coin again took a fall at $10060.89 and rebounded to $10097.64 tracing a high. Here Bitcoin has formed a bullish trend line.

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After that, the BTC price path has traced two lower highs which can invite a trend reversal from bullish to bearish. At 10:14:19 UTC, Bitcoin was trading at $10,055.73.

BTC/USD Price Chart

Bitcoin-Price-Chart

Bitcoin’s current price is 1.25% lower than its 50-day SMA of $10183.86. The coin appears to slip towards the bearish zone and the coin is still under selling pressure.

Bitcoin Price Prediction & Technical Indicators

MACD chart for the coin is moderately volatile and is in the bearish zone. RSI is just above 40 showing no extremities Bitcoin. The coin may see resistance at and support levels at $10,150.43 and support levels at $9,753.35.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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