{"id":390254,"date":"2019-07-18T06:00:03","date_gmt":"2019-07-18T06:00:03","guid":{"rendered":"https:\/\/wncen.com\/?p=390254"},"modified":"2024-06-11T12:54:29","modified_gmt":"2024-06-11T12:54:29","slug":"bitcoin-price-btc-showing-recovery-signs-but-can-it-break-10k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-btc-showing-recovery-signs-but-can-it-break-10k\/","title":{"rendered":"Bitcoin Price (BTC) Showing Recovery Signs But Can It Break $10K?"},"content":{"rendered":"
Bitcoin price extended losses towards the $9,100 level against the US Dollar. BTC is currently correcting higher, but the bulls may struggle to clear the $10,000 resistance.<\/em><\/p>\n Yesterday, we saw another strong drop in bitcoin price below the $10,000 support against the US Dollar. The BTC\/USD pair even broke the $9,800 and $9,500 support levels. Similarly, there were losses in Ethereum<\/a> and ripple<\/a> before both found support. BTC traded close to the $9,100 level and recently found support near the $9,115 level. It is currently correcting higher and moved above the $9,400 resistance level.<\/p>\n Moreover, there was a break above the 23.6% Fib retracement level of the last decline from the $11,065 swing high to $9,115 low. However, the price struggled to surpass the $9,800 resistance level. Moreover, yesterday\u2019s highlighted key bearish trend line is still active with resistance near $9,740 on the hourly chart of the BTC\/USD pair. Besides, the price remained well below the 100 hourly simple moving average plus $10,000.<\/p>\n Above the trend line, there is a major hurdle forming near $10.000. The 50% Fib retracement level of the last decline from the $11,065 swing high to $9,115 low is just above the $10,000 mark to act as a major hurdle. The next important resistance is near the $10,300 level, the 100 hourly SMA, and the 61.8% Fib retracement level of the last decline from the $11,065 swing high to $9,115 low.<\/p>\n Therefore, an upside break above the $10,000 and $10,100 resistance levels won\u2019t be easy in the near term. If the price fails to settle above $10,000 and gain momentum above $10,300, then there could be a fresh decrease.<\/p>\nBitcoin Price Analysis<\/h2>\n