{"id":396854,"date":"2019-09-23T06:00:18","date_gmt":"2019-09-23T06:00:18","guid":{"rendered":"https:\/\/uniquehot.com\/?p=396854"},"modified":"2024-06-11T12:54:58","modified_gmt":"2024-06-11T12:54:58","slug":"bitcoin-price-btc-watch-here-is-why-bulls-must-be-careful","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-btc-watch-here-is-why-bulls-must-be-careful\/","title":{"rendered":"Bitcoin Price (BTC) Watch: Here Is Why Bulls Must Be Careful"},"content":{"rendered":"
Bitcoin price is under pressure below $10,200 against the US Dollar. BTC remains at a risk of more losses until it settles above $10,100 and $10,200.<\/em><\/p>\n This past week, we saw a couple rejections<\/a> near the $10,400 resistance in bitcoin against the US Dollar. The price struggled to gain bullish momentum above $10,350 and remained in a bearish zone. As a result, there was a bearish reaction below the $10,200 level. Moreover, the price broke the $10,000 support and settled below the 100 hourly simple moving average.<\/p>\n The recent low was formed near $9,851 and the price is currently consolidating. It traded above the 23.6% Fib retracement level of the recent decline from the $10,315 swing high to $9,851 low. However, the price seems to be facing a lot of hurdles near the $10,080 and $10,100 levels. Moreover, there is a short term breakout pattern forming with resistance near $10,060 on the hourly chart of the BTC\/USD pair.<\/p>\n The 50% Fib retracement level of the recent decline from the $10,315 swing high to $9,851 low is also near the $10,080 level. Therefore, an upside break above the triangle and the $10,080 resistance might open the doors for a decent rise towards the $10,400 resistance area<\/a>. However, a convincing break above $10,400 is must for uptrend continuation.<\/p>\n Conversely, the price might breakdown below the $9,900 and $9,850 levels. In the mentioned bearish case, the price could slide towards the $9,650 support area. The next key support is near the $9,400 area, below which the bears are likely to take control. They could aim the $9,000 and $8,800 levels if there is a break below $9,400.<\/p>\nBitcoin Price Analysis<\/h2>\n