- Bitcoin’s 4-hour chart shows slight uplift in the price
- BTC price traces bullish trendline; finds support at $9675.88
- The coin is currently correcting down from $9799.46
- Bitcoin continues to trade under selling pressure
Yesterday’s bullish trend seems to be reversing as the coin has bearishly traded below $10,000 and has even broken below $9,800 against U.S.Dollar. The gradual price drop has affected top altcoins like XRP and ETH to quite an extent as both of them are heading downwards.
4 hours ago, Bitcoin was at $9,729.50 and it tumbled to $9,675.88. Here, the coin has found decent support to strike a surge at $9797.46 with an increase of 1.26%. After a downward correction, the coin saw next rise at $9799.11 but couldn’t cross the $9,800 price mark. At present, the coin is correcting down and is at $9774.62 at 09:40:22 UTC.
BTC/USD Price Chart
BTC’s current price is even below its 5-day SMA and is 2.84% lower than its 30-day SMA of $10,060.53. The price scenario indicates to have a bearish effect at present as the coin is still carrying selling pressure.
Bitcoin Price Prediction & Technical Indicators:
MACD of the coin is moderately volatile and is in the bearish zone with its MACD line below the Signal line. RSI for BTC/USD is moving below 30 showing its oversold momentum. Bitcoin may find support levels at $9,566.39 and $9,358.83 and resistance at $10,119.41.