{"id":396381,"date":"2019-09-18T06:00:15","date_gmt":"2019-09-18T06:00:15","guid":{"rendered":"https:\/\/uniquehot.com\/?p=396381"},"modified":"2024-06-11T13:25:32","modified_gmt":"2024-06-11T13:25:32","slug":"bitcoin-price-btc-trading-near-make-or-break-levels","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-btc-trading-near-make-or-break-levels\/","title":{"rendered":"Bitcoin Price (BTC) Trading Near Make-or-Break Levels"},"content":{"rendered":"
Bitcoin price is trading below key resistances and hurdles against the US Dollar. BTC is likely to make the next move either above $10,400 or towards $9,900.<\/em><\/p>\n In the past three days, bitcoin price declined steadily below $10,400 against the US Dollar. On the other hand, Ethereum<\/a> rallied above $200 and ripple<\/a> price surged above the $0.3000 resistance. BTC\/USD is now trading well below the $10,300 level and the 100 hourly simple moving average. The last swing high was formed near $10,348 and the recent low was near $10,138.<\/p>\n At the moment, the price is consolidating gains above $10,200. It broke the $10,240 resistance, plus the 50% Fib retracement level of the recent decline from the $10,348 high to $10,138 low. However, the upward move was capped by the $10,270 level. It seems like the 61.8% Fib retracement level of the recent decline from the $10,348 high to $10,138 low is capping the upward move.<\/p>\n More importantly, there is a key breakout pattern forming with support near $10,200 on the hourly chart of the BTC\/USD pair. There are many hurdles on the upside near $10,270, $10,300, and the 100 hourly SMA. If there is an upside break above the $10,300 level and the 100 hourly SMA, the price could continue higher. The next key resistances are near the $10,400 and $10,440 levels.<\/p>\n Conversely, if the price continues to struggle below $10,300, there could be a downside break. An immediate support is near the $10,200 level. A convincing break and follow through below $10,200 will most likely push the price towards the $10,000 support. The main support is near the $9,900, below which there could be a nasty drop towards $9,500 or $9,200.<\/p>\nBitcoin Price Analysis<\/h2>\n