{"id":393486,"date":"2019-08-19T06:00:41","date_gmt":"2019-08-19T06:00:41","guid":{"rendered":"https:\/\/uniquehot.com\/?p=393486"},"modified":"2024-06-11T12:49:56","modified_gmt":"2024-06-11T12:49:56","slug":"bitcoin-btc-price-could-accelerate-if-it-breaks-10600","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-price-could-accelerate-if-it-breaks-10600\/","title":{"rendered":"Bitcoin (BTC) Price Could Accelerate If It Breaks $10,600"},"content":{"rendered":"<ul>\n<li>Bitcoin price rebounded recently and climbed above the $10,200 resistance against the US Dollar.<\/li>\n<li>The price is currently trading nicely above $10,300, but facing hurdles near $10,500 and $10,600.<\/li>\n<li>There is a connecting bullish trend line forming with support near $10,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The price is likely to climb higher if it breaks the $10,600 resistance area in the near term.<\/li>\n<\/ul>\n<p><em>Bitcoin price is correcting higher with a positive bias above $10,200 against the US Dollar. BTC could continue to rise if it breaks the $10,500 and $10,600 resistances.<\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<p>This past week, we saw a <a href=\"https:\/\/uniquehot.com\/2019\/08\/18\/bitcoin-btc-price-weekly-forecast-08-18-2019\/\" target=\"_blank\" rel=\"noopener noreferrer \">sharp decline in BTC<\/a> below the $10,000 support against the US Dollar. The price traded towards the $9,500 support and recently started an upside correction. It traded above the $10,000 resistance level to move into a short term positive zone. Moreover, there was a break above the $10,200 resistance and the 100 hourly simple moving average.<\/p>\n<p>However, the price is facing a few important hurdles near the $10,500 and $10,600 resistance levels. Already, there were a few attempts to surpass the $10,500 and $10,600 resistances, but the bulls failed. The last swing high was formed near $10,513 and the price is currently declining. It traded below the $10,400 level plus 23.6% Fib retracement level of the recent leg from the $9,998 low to $10,513 high.<\/p>\n<p>On the downside, there is a decent support forming near the $10,250 and $10,200 levels. Additionally, there is a connecting bullish trend line forming with support near $10,250 on the hourly chart of the BTC\/USD pair. Bitcoin price might also find strong bids near the $10,225 level and the 100 hourly SMA. If the bulls fail to defend the $10,200 support, the price could decline back to $10,000.<\/p>\n<p>On the upside, the price is clearly facing a <a href=\"https:\/\/uniquehot.com\/2019\/08\/17\/bitcoin-btc-price-hesitates-but-further-recovery-likely\/\" target=\"_blank\" rel=\"noopener noreferrer \">strong resistance<\/a> near the $10,500 and $10,600 levels. Therefore, a convincing break above the $10,600 level is needed for the bulls to gain traction. In the mentioned case, the price could accelerate higher towards the $10,800 and $11,000 resistance levels.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Bitcoin-17.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-393487\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Bitcoin-17.png?resize=1828%2C868\" alt=\"Bitcoin Price Analysis BTC Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Bitcoin-17.png?w=1828 1828w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Bitcoin-17.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Bitcoin-17.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Bitcoin-17.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Bitcoin-17.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Bitcoin-17.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/08\/Bitcoin-17.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/XBTUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, bitcoin price is approaching a crucial breakout point and it could either climb above $10,600 or start a fresh decline below $10,200. As long as there is no close above $10,500 and $10,600, the price remains at a risk of more losses. The main supports below $10,200 are near $10,000 and $9,800.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is likely to move back into the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $10,200 followed by $10,200.<\/p>\n<p>Major Resistance Levels \u2013 $10,500, $10,600 and $10,650.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price rebounded recently and climbed above the $10,200 resistance against the US Dollar. The price is currently trading nicely above $10,300, but facing hurdles near $10,500 and $10,600. There is a connecting bullish trend line forming with support near $10,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The price is likely to climb higher if it breaks the $10,600 resistance area in the near term. Bitcoin price is correcting higher with a positive bias above $10,200 against the US Dollar. BTC could continue to rise if it breaks the $10,500 and $10,600 resistances. Bitcoin Price Analysis This past week, we saw a sharp decline in BTC below the $10,000 support against the US Dollar. The price traded towards the $9,500 support and recently started an upside correction. It traded above the $10,000 resistance level to move into a short term positive zone. Moreover, there was a break above the $10,200 resistance and the 100 hourly simple moving average. However, the price is facing a few important hurdles near the $10,500 and $10,600 resistance levels. Already, there were a few attempts to surpass the $10,500 and $10,600 resistances, but the bulls failed. The last swing high was formed near $10,513 and the price is currently declining. It traded below the $10,400 level plus 23.6% Fib retracement level of the recent leg from the $9,998 low to $10,513 high. On the downside, there is a decent support forming near the $10,250 and $10,200 levels. Additionally, there is a connecting bullish trend line forming with support near $10,250 on the hourly chart of the BTC\/USD pair. Bitcoin price might also find strong bids near the $10,225 level and the 100 hourly SMA. If the bulls fail to defend the $10,200 support, the price could decline back to $10,000. On the upside, the price is clearly facing a strong resistance near the $10,500 and $10,600 levels. Therefore, a convincing break above the $10,600 level is needed for the bulls to gain traction. In the mentioned case, the price could accelerate higher towards the $10,800 and $11,000 resistance levels. Looking at the chart, bitcoin price is approaching a crucial breakout point and it could either climb above $10,600 or start a fresh decline below $10,200. As long as there is no close above $10,500 and $10,600, the price remains at a risk of more losses. The main supports below $10,200 are near $10,000 and $9,800. Technical indicators: Hourly MACD \u2013 The MACD is likely to move back into the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently above the 50 level. Major Support Levels \u2013 $10,200 followed by $10,200. Major Resistance Levels \u2013 $10,500, $10,600 and $10,650.<\/p>\n","protected":false},"author":67,"featured_media":344599,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119],"class_list":["post-393486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc"],"acf":[],"yoast_head":"\n<title>Bitcoin (BTC) Price Could Accelerate If It Breaks $10,600<\/title>\n<meta name=\"description\" content=\"Bitcoin price is correcting higher with a positive bias above $10,200 against the US Dollar. 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