Can BTC/USD Hold 10000?
Stops were recently elected below the 11120, 11004.10, 10961.41, 10647.72, 10546.15, and 10450.26 areas during the depreciation from recent multi-week highs. Traders note that the recent high of 12486.61 represented a test of the 12496.68 area, an upside price objective related to buying pressure that emerged around the 8055.91 area earlier this year. Traders also remain focused on the 12023.45, 11964.56, 11880.38, 11803.31, 11737.30, 11642.95, 11560.28, and 11533.51 areas during pullbacks higher, representing the retracements of the recent appreciating ranges that commenced around the 9005.00, 8905.84, 8815. 01 , and 8632.93 areas. Other important technical levels include the 11510.44 area, representing the of a historical depreciation from 19891.99 to 3128.89, as well as the 10200.39, 10139.11, and 10082.97 areas Chartists are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) and below the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).
Price activity is nearest the 50-bar MA (4-hourly) at 10257.94 and the 100-bar MA (Hourly) at 10341.56.
Technical Support is expected around 9816.32/ 9681.42/ 9465.77 with Stops expected below.
Technical Resistance is expected around 10885.13/ 11190.92/ 11496.70 with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while is Bearishly below MACDAverage.