Bitcoin failed to climb convincingly above $10,200 against the US Dollar. As a result, BTC declined heavily below $9,800 and it is now vulnerable for a bigger a correction.
Bitcoin price failed to clear the $10,200 and $10,300 resistance levels against the US Dollar.
There was a sharp decline below the $10,000 and $9,800 support levels.
Yesterday’s major bearish trend line acted as a strong hurdle near $10,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is currently consolidating losses and it might face sellers near $9,800 if it corrects higher.
Bitcoin Reversal Could Be a Game Changer
Yesterday, we discussed the importance of the $10,200 resistance area for bitcoin against the US Dollar. BTC price made two attempts to clear the $10,200 and $10,300 resistance levels.
However, the bulls failed to gain traction above $10,200. A swing high was formed near the $10,300 level and the price declined heavily below the $10,000 support area. Read More...