Bitcoin (BTC/USD): looking for a consolidation below 10K?

Bitcoin (BTC/USD): looking for a consolidation below 10K?

Bitcoin continues to move in a bearish bias around the 10,000 mark in the short term. It is worth mentioning that the support of 9.259 continues to be a key support for the BTC/USD pair to keep the gains above the aforementioned level. It must also be borne in mind that the 200-hour moving average is slowing the advance.

There were no significant catalysts behind the declines recorded during the session on Monday and Tuesday, but the uncertainty remains about the establishment of regulatory frameworks in cryptocurrency in various parts of the world. During Tuesday, the South Korean government announced that it will write down the anonymous trading accounts that operate with cryptocurrency.

What do we expect?

According to our forecasts in the H1 chart, the Parabolic SAR shows us that the bearish price action is still dominant in the BTC movements and it is possible that in the next few hours it will test the support of 9.259. If it manages to fracture this zone, the doors would open to visit the Fibonacci level of -23.6% in 8,507. The RSI indicator remains in negative territory.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera