{"id":396071,"date":"2019-09-16T06:00:53","date_gmt":"2019-09-16T06:00:53","guid":{"rendered":"https:\/\/wncen.com\/?p=396071"},"modified":"2024-06-11T13:25:26","modified_gmt":"2024-06-11T13:25:26","slug":"bitcoin-price-btc-approaching-next-break-10250-holds-key","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-btc-approaching-next-break-10250-holds-key\/","title":{"rendered":"Bitcoin Price (BTC) Approaching Next Break, $10,250 Holds Key"},"content":{"rendered":"
Bitcoin price is holding an important support near $10,300 against the US Dollar. BTC could rise steadily towards $10,500 as long as it is above $10,250 and $10,300.<\/em><\/p>\n Recently, bitcoin struggled to gain momentum above the $10,400 resistance<\/a> area against the US Dollar. The last swing high was formed near $10,437 before the price started a downside correction. On the other hand, there was a solid upward move in Ethereum<\/a> above the $185 and $186 resistance levels. At the outset, BTC price is trading well below the $10,400 resistance level.<\/p>\n The last swing low was near $10,270 and recently the price corrected higher. It broke the $10,320 and $10,350 levels, plus remained well above the 100 hourly simple moving average. Moreover, there was a break above the 50% Fib retracement level of the recent decline from the $10,437 high to $10,270 low. However, the upward move was capped by the $10,375 level.<\/p>\n It seems like the 61.8% Fib retracement level of the recent decline from the $10,437 high to $10,270 low is acting as a hurdles. More importantly, there is a breakout pattern forming with resistance near $10,400 on the hourly chart of the BTC\/USD pair. If bitcoin breaks the trend line support near $10,300 and the 100 hourly SMA, there could be a downside extension. An immediate support is near the $10,250 level, below which the price could head towards $10,000.<\/p>\n Conversely, if there is an upside break above $10,400, the price could start another rise. The next major resistances are near $10,440 and $10,500. If the bulls remain in action above $10,500, the price could start a strong upward move above the $10,550 and $10,600 levels.<\/p>\nBitcoin Price Analysis<\/h2>\n