{"id":391731,"date":"2019-07-31T06:00:56","date_gmt":"2019-07-31T06:00:56","guid":{"rendered":"https:\/\/wncen.com\/?p=391731"},"modified":"2024-06-11T13:46:08","modified_gmt":"2024-06-11T13:46:08","slug":"bitcoin-price-btc-usd-signaling-bullish-continuation-to-10200","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-btc-usd-signaling-bullish-continuation-to-10200\/","title":{"rendered":"Bitcoin Price (BTC\/USD) Signaling Bullish Continuation To $10,200"},"content":{"rendered":"
In the past few hours, bitcoin price recovered above $9,500 against the US Dollar. BTC price is showing positive signs and it could continue to rise towards $10,000 and $10,200.<\/em><\/p>\n Yesterday, we saw a solid support forming for bitcoin price near the $9,150 and $9,200 levels against the US Dollar. As a result, the BTC\/USD pair started a decent upside correction above the $9,300 and $9,320 resistance levels. Moreover, there was a successful break above the $9,500 resistance level and the 100 hourly simple moving average. Besides, there were positives moves in Ethereum<\/a> and ripple<\/a> as well.<\/p>\n During the rise, BTC price climbed above yesterday\u2019s highlighted connecting bearish trend line with resistance near $9,470 on the hourly chart. It opened the doors for more gains above $9,500 and $9,600. Finally, the price broke the $9,700 level and a new intraday high was formed at $9,767. Recently, the price corrected gains below the $9,600 level plus the 50% Fib retracement level of the upward move from the $9,182 low to $9,767 high.<\/p>\n However, the decline was protected by the $9,525 area and the 100 hourly SMA. Additionally, the 61.8% Fib retracement level of the upward move from the $9,182 low to $9,767 high acted as a support. At the outset, there is a short term contracting triangle forming with resistance near $9,750 on the same chart. If bitcoin price climbs above the $9,750 and $9,770 levels, there could be more gains above $9,800.<\/p>\n The next immediate resistance is near the $9,940 level, above which the price is likely to surpass $10,000. The main resistance on the upside is near the $10,200 level. Conversely, if there is a downside break below the $9,525 support and the 100 hourly SMA, the price could retest the $9,200 support area.<\/p>\nBitcoin Price Analysis<\/h2>\n