{"id":438323,"date":"2020-09-14T04:08:43","date_gmt":"2020-09-14T04:08:43","guid":{"rendered":"https:\/\/wncen.com\/?p=438323"},"modified":"2024-06-11T14:16:19","modified_gmt":"2024-06-11T14:16:19","slug":"bitcoin-topside-bias-vulnerable-2","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-topside-bias-vulnerable-2\/","title":{"rendered":"Bitcoin Topside Bias Vulnerable Unless It Surges Past $10,500"},"content":{"rendered":"
Bitcoin price broke the $10,500 resistance, but it struggled to settle above it against the US Dollar. BTC is currently holding the $10,200 support, below which the bears could gain strength.<\/em><\/p>\n In the past two days, bitcoin price recovered above the $10,400 level<\/a> against the US Dollar. BTC even broke the $10,500 resistance and settled above the 100 hourly simple moving average.<\/p>\n However, the bulls failed to gain strength above $10,500. A high was formed near $10,573 and the price trimmed most its gains. It broke the $10,400 level and the 100 hourly SMA. There was also a break below a major bullish trend line with support near $10,350 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin price traded close to the $10,200 support and low is formed near $10,215. The price is currently correcting higher and trading above $10,300. There was a break above the 23.6% Fib retracement level of the recent decline from the $10,573 high to $10,215 low.<\/p>\n <\/a><\/p>\n It is now trading near the 100 hourly simple moving average and well above the $10,200 support. On the upside, an initial resistance is near the $10,400 level. It is close to the 50% Fib retracement level of the recent decline from the $10,573 high to $10,215 low.<\/p>\n The next major resistance is near the $10,500 level. A successful close above the $10,500 resistance level is must for upside continuation. The next major resistance is near $10,800, followed the key $11,000 barrier.<\/p>\n\n
Bitcoin Price is Facing Hurdles<\/h2>\n
Bitcoin price trades below $10,400. Source: TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n