{"id":396521,"date":"2019-09-19T06:00:54","date_gmt":"2019-09-19T06:00:54","guid":{"rendered":"https:\/\/uniquehot.com\/?p=396521"},"modified":"2024-06-11T12:54:44","modified_gmt":"2024-06-11T12:54:44","slug":"bitcoin-price-btc-turns-sell-on-rallies","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-btc-turns-sell-on-rallies\/","title":{"rendered":"Bitcoin Price (BTC) Breaks Down, Turns Sell On Rallies"},"content":{"rendered":"
Bitcoin price is back in a negative zone below $10,000 against the US Dollar. BTC is facing uphill task and it might face sellers near $9,925 and $10,000.<\/em><\/p>\n This week, we saw ranging moves in bitcoin below the $10,300 resistance<\/a> against the US Dollar. BTC struggled to climb higher and recently broke many key supports near the $10,200 and $10,150 levels. Moreover, there was a close below the $10,150 level and the 100 hourly simple moving average. It opened the doors for a sharp decline below the $10,000 support area.<\/p>\n More importantly, there was a break below a contracting triangle with support at $10,150 on the hourly chart of the BTC\/USD pair. The pair even broke the $9,900 support area and traded close to the $9,600 level. A swing low was formed near $9,635 and the price is currently correcting higher. It broke the 23.6% Fib retracement level of the recent slide from the $10,210 high to $9,635 low.<\/p>\n An immediate resistance on the upside is near the $9,900 and $9,925 levels. Additionally, the 50% Fib retracement level of the recent slide from the $10,210 high to $9,635 low is near $9,925. However, the main resistance is near the $10,000 and $10,050 levels (the previous support levels<\/a>). Therefore, an upside correction towards the $10,000 level might face a strong resistance.<\/p>\n On the downside, an immediate support is near the $9,750 level. If there are more downside, the price could even break the recent low at $9,635. The next key support area is near the $9,550 and $9,500 levels, below which the bulls might struggle to protect strong declines.<\/p>\nBitcoin Price Analysis<\/h2>\n