{"id":394765,"date":"2019-09-01T05:00:02","date_gmt":"2019-09-01T05:00:02","guid":{"rendered":"https:\/\/uniquehot.com\/?p=394765"},"modified":"2024-06-11T12:51:53","modified_gmt":"2024-06-11T12:51:53","slug":"bitcoin-btc-price-weekly-forecast-10k-holds-key-for-recovery","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-price-weekly-forecast-10k-holds-key-for-recovery\/","title":{"rendered":"Bitcoin (BTC) Price Weekly Forecast: $10K Holds Key For Recovery"},"content":{"rendered":"
Bitcoin price is facing a lot of hurdles on the upside near $10,000 against the US Dollar. BTC remains sell on rallies as long as it is trading below the $10,000 resistance.<\/em><\/p>\n In the last weekly forecast, we discussed the possibilities of a downward move below $10,000 in bitcoin price against the US Dollar. The BTC\/USD pair did move down and broke the key $10,000 and $9,800 support levels<\/a>. Moreover, there was a close below the $10,000 pivot and the 100 simple moving average (4-hours). Finally, there was a break below the $9,800 and $9,500 supports as well.<\/p>\n A new monthly low was formed near $9,300 and the price is currently consolidating losses. It is testing the 23.6% Fib retracement level of the recent decline from the $10,717 high to $9,308 low. However, there are many hurdles on the upside near the $9,800 and $9,900 levels. Additionally, there is a major bearish trend line forming with resistance near $9,980 on the 4-hours chart of the BTC\/USD pair.<\/p>\n Moreover, the 50% Fib retracement level of the recent decline<\/a> from the $10,717 high to $9,308 low is also near the $10,010 level. Therefore, upsides are likely to remain capped near the $9,800 and $10,000 levels. Above the trend line, the 100 SMA is waiting near the $10,150 level. The 61.8% Fib retracement level of the recent decline from the $10,717 high to $9,308 low is also waiting near the $10,170 level.<\/p>\n On the downside, an immediate support is near the $9,500 level. If there is a downside break below the $9,500 support, the price may continue to move down below the last swing low at $9,300. The next key supports are near the $9,100 and $9,000 levels.<\/p>\nBitcoin Price Weekly Analysis (BTC)<\/h2>\n