Bitcoin Price Analysis: BTC/USD stalls 10K once again can it have another push later?
- Bitcoin has moved 0.89% higher but has stalled at the 10K hurdle.
- The volume has dropped off dramatically as the price headed toward the psychological level.
BTC/USD 4-hour chart
Bitcoin has once again stalled before the 10K mark. On the last break, the sellers stepped in at 10404.87 and the market fell pretty dramatically. So far this time around the volume is no way near as large as the last time, this is marked by the arrow on the volume indicator.
On the chart, the circles represent the times where 10K has been tested and you can see it has been pretty stubborn and at some points, the market stopped just shy of the psychological level.
Looking at some of the other technicals, the price is still holding above the 55 and 200 moving averages. The MACD indicator's histogram has moved back into the green and the signal lines are still above the mid-line. The trend is still higher making higher highs and higher lows but the next major hurdle for the bulls is still 10404.87.
 (4)-637268918076120170.png)
Additional levels
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
