Bitcoin price analysis: Weekend session fails to break $11k; BTC/USD defends $10,200 support
|- Bitcoin won the battles of stepping higher above $10,900 but lost the war of breaking $11,000 hurdle.
- BTC/USD ability to launch another attack on $11,000 will depend on the capacity to stay above the 50 SMA in the coming sessions.
Bitcoin continues with the mission to break $11,000 psychological level over the weekend. The largest cryptocurrency won the battle of stepping above $10,800 and $10,900 hurdles respectively but lost the way shy of $11,000.
The 4-hour chart for BTC/USD trading air shows Bitcoin has expanded the range to cover $11,000 as the ultimate resistance and $10,200 as the vital support area. The crypto is teetering at $10,373 following a subtle 0.29% loss and a relative change of -29 on Monday.
The prevailing trend is relatively bearish but as long as BTC stays above the 50 Simple Moving Average, the price could step above $10,400 in the near-term. A one-week long trend line will come in handy in case of declines progressing. Other support areas to keep in mind are $9,800 and $9,400 - $9,200.
BTC/USD 4-hour chart
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