RATE Group | BTC/USD glances towards pivotal $10,000 milestone
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BTC/USD glances towards pivotal $10,000 milestone

26 Jul BTC/USD glances towards pivotal $10,000 milestone

Posted at 09:55h in Bitcoin News by

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  • Bitcoin brilliant move past $10,000 hit pause short of $10,200 hurdle.
  • Tentative bullish pressure at $9,650 support faces $9,800 stubborn resistance.

Bitcoin is fluctuating at $10,000 ahead of the weekend trading sessions. An explosive breakout on Thursday thrust Bitcoin past $10,000 from support around $9,500. However, due to diminishing buying power, the resistance at $10,200 remained largely untested.

Instead, the bears took charge of the price with overwhelming pressure. BTC plunged under $10,000 trimming most of the gains achieved. In addition to the immense congestion of sellers at $10,200, the trendline resistance and the 100 Simple Moving Average (SMA) 1-hour chart made it difficult for the bulls to propel Bitcoin towards $10,000.

Following the second dip under $10,000 in the same week, short-term support has been formed at $9,650. Tentative bullish pressure at the support has seen BTC make a shallow recovery above $9,700 but $9,800 resistance level…

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