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BTC/USD stays dangerously close to $10,000,

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  • BTC/USD has recovered from the intraday low, but bearish sentiments are still strong.
  • Strong support area comes on approach to $9,500. 

Bitcoin (BTC) bulls struggle to keep the price above $10,000. The coin tested waters below this critical handle twice on Wednesday; however, each time new buyers popped in and saved the situation. At the time of writing, BTC/USD is changing hands at $10,017, down about 2% on a day-on-day basis. Bitcoin’s market dominance is unchanged- 69.8%.

Bitcoin’s technical picture

Looking technically, BTC/USD has been moving down for the fourth day in succession; however, on a daily chart the coin is still limited by a tight range where $10,800 serves as a resistance and $9,500 serves as a support. A sustainable move in either direction will help to clarify the further trend. 

Intermediate support also awaits the bulls on approach to $10,500. It is created by a confluence of SMA50 (Simple Moving Average) and SMA100 on a daily chart. Once it is out of the way, the upside is likely to gain traction with the next focus on the above-said $10,800. The ultimate barrier comes at $11,000.

On the downside, a sustainable move above $10,000 will open up the way towards $9,500 and $9,320, which is the lowest level since the end of August. 

BTC/USD, daily chart

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Crypto News

Cryptocurrencies price prediction: Bitcoin, Ethereum & Litecoin – American Wrap – 17 February

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Bitcoin Price Analysis: BTC/USD at risk again underneath $10,000

Bitcoin price is trading in negative territory, down 4.40% in the second half of the session. 

BTC/USD has lost momentum over the last three sessions, failing to break a barrier at $10,500. 

Support is now likely to be sought at the psychological $3000 price mark. 

Ethereum Price Analysis: ETH/USD is following the Elliott Wave Harmonic patterns

Below is the 60-minute chart for ETH/USD and it seems it’s falling in line with the Fibs.

As you can see from the formation of the black lines the wave formation looks like it falls into the Eliott Wave sequence.

That would be a 5 wave pattern which follows the laws of Fibonacci.

Even the wave pattern on the retracement has a nice 5 wave pattern.

Litecoin Price Analysis: Just a retracement?

Litecoin has retraced over the last few sessions but found some support at the 38.2% Fib level.

The level coincided with some previous support and historically has been a sticky point for the price.

Elsewhere, if that level breaks the 50% level could also act as a support level too.

Get the 5 most predictable currency pairs

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