Bitcoin Shows Positive Price Moves in the Last 4 Hours Despite the 2-Day Long Bearishness

  • Bitcoin heads upward, trades above $9,700
  • BTC price may see a further surge as its 4-hourly chart shows positive signs
  • Bitcoin lacks stability up there, though has found support level at $9655.51
  • The coin at present is struggling with resistance above $9720.91

BTC has slowly started an upward movement against U.S.Dollar as the coin has just left the price range around $9600 behind. To continue the uptrend, the coin needs to stay above $9700 stably.

Over the last 4 hours, BTC initially had a surge from $9,713.20 to $9,748.89. The coin then dropped to $9,676.11 and corrected up near $9,714. The coin here saw one more price drop at $9,655.51 and found support to strike a notable price recovery near $9,772.43. The coin has traced an impulse pattern here.

However, the recovery was followed by a pullback keeping the $9,700 price mark intact. BTC is currently correcting up while facing hurdles above $9,720.91. At 10:07:32 UTC, the coin was trading at $9,745.55.

BTC/USD Price Chart

Bitcoin Price Chart
Bitcoin Price Chart

Bitcoin is still carrying the selling pressure as it is yet to leave the bears behind. Its current price is 12.22% lower than its 30-day SMA of $11102.63. At present, the coin is well below its 5-day SMA too.

Bitcoin Price Prediction & Technical Indicators:

The MACD of the coin is moderately volatile and is heading towards a bullish crossover. The RSI for BTC/USD is just above 50 showing no extremities. Furthermore, according to BTC price prediction, BTC price may see resistance at $10,203.81 and support levels at $9,580.56.

Ruti Vora

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

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