Price Analysis

Bitcoin Price Analysis: BTC Makes Constant Efforts to Top $9500 Stably, Faces Hurdles

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  • Bitcoin is in an attempt to climb above $9500, though fails to clear resistance
  • BTC recently had a close above $9500, but couldn’t remain there and pulled back near $9490
  • The coin has recently found support at $9467.95, although it continues to move sluggishly

Bitcoin continues to trade bearishly against U.S.Dollar and is still struggling to step above the price range of $9400. Since the last 3 days, BTC is much below $10,000.

In the last 4 hours, BTC initially surged by 0.85% reaching as high as $9519.23. The coin then pulled back to $9494.67. Later, Bitcoin took a further drop at $9467.95 and here the coin seems to have a support level to strike a rebound.

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Bitcoin has gradually corrected up from there and at 09:59:7 UTC, BTC is trading at $9482.41. In the last 4 hours, Bitcoin has increased by 0.45%.

BTC/USD Price Chart

Bitcoin Price Chart

Bitcoin’s current price is 1.62% lower than its 30-day SMA of $9638.67 but is just above its 5-day SMA. The leading crypto coin is trading under prolonged selling pressure at present.

Bitcoin Price Prediction & Technical Indicators: 

MACD for the coin is moderately volatile while it just had a bullish crossover. RSI for Bitcoin is near 50 indicating stability. Additionally, Bitcoin is likely to face resistance at $9,642.88 and support at $9,349.22.

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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