B-B-B-Bitcoin vs US Dollar - Sellers step in around 10k

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has had another great run from 6k, we paused a bit around the 8k zone before smashing through 9k and finding sellers in the 10k zones.

It is not surprising that 10k has come into play as resistance, it was a major support a while back.

In my opinion we are looking at minor correction in the market and possibly a opportunity to buy the dip. I am long on the market with exit planned should $9200 fail, at this point in time.

On the near term I see support at $9750 and should that fail we will most likely test the $9200 – $9500 levels with $9000 being the main psychological support on the shorter timeframe.

Contrary to what everybody thought we saw quite a bit of selling during the Asian markets, hinting that they might not be ready to buy back just yet.

Should 10k resistance get broken today, it will be a very bullish signal for me going into the weekend and next week.

Summary for the short term:

Support: Near term – $9750 – Short term: $9000 – $9500

Resistance: Near term – $10 000 – Short term: $10 300

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