Bitcoin Price Forecast: Bitcoin stops just shy of the 10K mark

Bitcoin is trading over 3% higher but cannot test 10K.
The BTC/USD medium-term trend is still up but a break of the 8100.00 level could change that.

BTC/USD daily chart

Bitcoin fell just short of hitting 10K on Thursday. It seems that the bulls just ran out of steam ahead of the psychological level. Looking at the long term trend on the chart the price will still need to break 10522.51 to make the pattern of lower highs become obsolete.

Looking closer at the technicals, the Relative Strength Index (RSI) indicator has pulled away from its recent peak. Now there is some room for a move to the upside again on the indicator. The price is still holding above the moving averages.

The key zone still remains to the high on the chart of 13868.34. Any break of the red resistance line could be a great indication that the price might reach there. The 62.8 Fibonacci extension level still looks hard to beat so over the next few sessions let's see if the bulls can gather enough momentum.

Additional levels

BTC/USD

Overview
Today last price	9651.04
Today Daily Change	332.83
Today Daily Change %	3.57
Today daily open	9318.21

Trends
Daily SMA20	8715.76
Daily SMA50	7601.18
Daily SMA100	7998.97
Daily SMA200	8034.11

Levels
Previous Daily High	9414.38
Previous Daily Low	8806.9
Previous Weekly High	10074.48
Previous Weekly Low	8535.49
Previous Monthly High	9476.83
Previous Monthly Low	6156.67
Daily Fibonacci 38.2%	9182.32
Daily Fibonacci 61.8%	9038.95
Daily Pivot Point S1	8945.28
Daily Pivot Point S2	8572.35
Daily Pivot Point S3	8337.8
Daily Pivot Point R1	9552.76
Daily Pivot Point R2	9787.3
Daily Pivot Point R3	10160.23

Share: Cryptos feed

All information and content on this website, from this website or from FX daily ltd. should be viewed as educational only. Although the author, FX daily ltd. and its contributors believe the information and contents to be accurate, we neither guarantee their accuracy nor assume any liability for errors. The concepts and methods introduced should be used to stimulate intelligent trading decisions. Any mention of profits should be considered hypothetical and may not reflect slippage, liquidity and fees in live trading. Unless otherwise stated, all illustrations are made with the benefit of hindsight. There is risk of loss as well as profit in trading. It should not be presumed that the methods presented on this website or from material obtained from this website in any manner will be profitable or that they will not result in losses. Past performance is not a guarantee of future results. It is the responsibility of each trader to determine their own financial suitability. FX daily ltd. cannot be held responsible for any direct or indirect loss incurred by applying any of the information obtained here. Futures, forex, equities and options trading contains substantial risk, is not for every trader, and only risk capital should be used. Any form of trading, including forex, options, hedging and spreads, contains risk. Past performance is not indicative of future FX daily ltd. are not Registered Financial Investment Advisors, securities brokers-dealers or brokers of the U.S. Securities and Exchange Commission or with any state securities regulatory authority OR UK FCA. We recommend consulting with a registered investment advisor, broker-dealer, and/or financial advisor. If you choose to invest, with or without seeking advice, then any consequences resulting from your investments are your sole responsibility FX daily ltd. does not assume responsibility for any profits or losses in any stocks, options, futures or trading strategy mentioned on the website, newsletter, online trading room or trading classes. All information should be taken as educational purposes only.