{"id":438082,"date":"2020-09-11T03:58:07","date_gmt":"2020-09-11T03:58:07","guid":{"rendered":"https:\/\/ktsl888.com\/?p=438082"},"modified":"2024-06-11T14:16:14","modified_gmt":"2024-06-11T14:16:14","slug":"bitcoin-bulls-are-safe","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-bulls-are-safe\/","title":{"rendered":"Bitcoin Bulls Are Safe Despite Lack In Momentum Above $10.5K: Here&#8217;s Why"},"content":{"rendered":"<p><em>Bitcoin price started a decent recovery wave above the $10,200 resistance against the US Dollar. BTC is still struggling near $10,500, but dips are likely to remain supported near $10,200.<\/em><\/p>\n<ul>\n<li>Bitcoin is currently correcting lower from the $10,500 resistance zone.<\/li>\n<li>It is trading below the 100 hourly simple moving average and approaching the $10,200 support.<\/li>\n<li>There is a connecting bullish trend line forming with support near $10,240 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is likely to find a strong buying interest near the $10,200 and $10,150 levels.<\/li>\n<\/ul>\n<h2>Bitcoin Price Approaching Key Supports<\/h2>\n<p>Yesterday, we saw a <a href=\"https:\/\/ktsl888.com\/2020\/09\/10\/bitcoin-near-key-inflection-zone\/\" target=\"_blank\" rel=\"noopener \">decent recovery wave in bitcoin price<\/a> above the $10,200 resistance against the US Dollar. BTC even broke the 100 hourly simple moving average and spiked above the $10,400 resistance.<\/p>\n<p>However, the bulls failed to gain strength and the price remained below the $10,500 resistance. A high is formed near $10,492 and the price is currently correcting lower. There was a break below the $10,350 and $10,300 levels.<\/p>\n<p>Bitcoin is now trading below the 23.6% Fib retracement level of the recent recovery wave from the $9,855 swing low to $10,492 high. The first major support on the downside is near the $10,250 level. There is also a connecting bullish trend line forming with support near $10,240 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin-9.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"868\" class=\"alignnone size-full wp-image-438083\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin-9.png?resize=1828%2C868\" alt=\"Bitcoin Price\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin-9.png?w=1828 1828w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin-9.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin-9.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin-9.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin-9.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin-9.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/09\/Bitcoin-9.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Bitcoin price trades below $10,400. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p>The next major support is near the $10,200 level and the 100 hourly SMA. On the upside, the price is facing a strong resistance near the $10,400 and $10,500 levels.<\/p>\n<p>A successful close above the $10,500 resistance level is must for upside continuation. The next major resistance is near $10,600, above which the price is likely to rise towards the key $11,000 hurdle.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to stay above the $10,200 support and the 100 hourly SMA, there is a <a href=\"https:\/\/ktsl888.com\/2020\/09\/09\/do-or-die-for-bitcoin-bulls-2\/\" target=\"_blank\" rel=\"noopener \">risk of more losses<\/a>. The next major support is near the $10,160 level (the previous breakout zone).<\/p>\n<p>A close below the $10,160 and $10,150 levels may perhaps increase chances of another breakdown. In the stated case, the price could even revisit the $9,850 support level. A daily close below the $9,850 level is likely to push the price towards $9,500.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $10,200, followed by $10,150.<\/p>\n<p>Major Resistance Levels \u2013 $10,400, $10,500 and $10,600.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a decent recovery wave above the $10,200 resistance against the US Dollar. BTC is still struggling near $10,500, but dips are likely to remain supported near $10,200. Bitcoin is currently correcting lower from the $10,500 resistance zone. It is trading below the 100 hourly simple moving average and approaching the $10,200 support. There is a connecting bullish trend line forming with support near $10,240 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to find a strong buying interest near the $10,200 and $10,150 levels. Bitcoin Price Approaching Key Supports Yesterday, we saw a decent recovery wave in bitcoin price above the $10,200 resistance against the US Dollar. BTC even broke the 100 hourly simple moving average and spiked above the $10,400 resistance. However, the bulls failed to gain strength and the price remained below the $10,500 resistance. A high is formed near $10,492 and the price is currently correcting lower. There was a break below the $10,350 and $10,300 levels. Bitcoin is now trading below the 23.6% Fib retracement level of the recent recovery wave from the $9,855 swing low to $10,492 high. The first major support on the downside is near the $10,250 level. There is also a connecting bullish trend line forming with support near $10,240 on the hourly chart of the BTC\/USD pair. Bitcoin price trades below $10,400. Source: TradingView.com The next major support is near the $10,200 level and the 100 hourly SMA. On the upside, the price is facing a strong resistance near the $10,400 and $10,500 levels. A successful close above the $10,500 resistance level is must for upside continuation. The next major resistance is near $10,600, above which the price is likely to rise towards the key $11,000 hurdle. More Losses in BTC? If bitcoin fails to stay above the $10,200 support and the 100 hourly SMA, there is a risk of more losses. The next major support is near the $10,160 level (the previous breakout zone). A close below the $10,160 and $10,150 levels may perhaps increase chances of another breakdown. In the stated case, the price could even revisit the $9,850 support level. A daily close below the $9,850 level is likely to push the price towards $9,500. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well below the 50 level. Major Support Levels \u2013 $10,200, followed by $10,150. Major Resistance Levels \u2013 $10,400, $10,500 and $10,600.<\/p>\n","protected":false},"author":67,"featured_media":438084,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,1144,78790,76835],"class_list":["post-438082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Bulls Are Safe Despite Lack In Momentum Above $10.5K: Here&#039;s Why<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a decent recovery wave above $10,200. 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