{"id":395708,"date":"2019-09-11T05:28:41","date_gmt":"2019-09-11T05:28:41","guid":{"rendered":"https:\/\/wncen.com\/?p=395708"},"modified":"2024-06-11T12:54:24","modified_gmt":"2024-06-11T12:54:24","slug":"bitcoin-price-btc-remains-in-steady-corrective-decrease","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-btc-remains-in-steady-corrective-decrease\/","title":{"rendered":"Bitcoin Price (BTC) Remains In Steady Corrective Decrease"},"content":{"rendered":"
Bitcoin price is under pressure below $10,250 against the US Dollar. BTC may perhaps accelerate decline as long as there is no close above the $10,400 and $10,500 levels.<\/em><\/p>\n In the last two analysis, we discussed the chances of more downsides<\/a> in bitcoin price below $10,400 against the US Dollar. The price broke the $10,250 support area and the 100 hourly simple moving average. Moreover, the recent decline was such that the price broke the $10,100 support area. Finally, there was a downside spike below the $10,000 level and a new swing low was formed near the $9,938.<\/p>\n Recently, there was an upside correction above the $10,000 level. Moreover, the price broke the 23.6% Fib retracement level of the recent slide from the $10,528 high to $9,938 low. However, the upward move was capped by the $10,200 and $10,250 levels. There is also a major bearish trend line forming with resistance near $10,250 on the hourly chart of the BTC\/USD pair.<\/p>\n Additionally, the 50% Fib retracement level of the recent slide<\/a> from the $10,528 high to $9,938 low is acting as a resistance for the bulls. Above the trend line, the next key resistance is near the $10,350 level and the 100 hourly SMA. Having said that, a successful close above the $10,400 level plus the 61.8% Fib retracement level of the recent slide from the $10,528 high to $9,938 low is needed for more gains.<\/p>\n On the downside, the $10,000 level is an immediate support. However, the main support is near the $9,950 level. Below $9,950, there are chances of further losses in the near term. The next key support is near the $9,800 level.<\/p>\nBitcoin Price Analysis<\/h2>\n