- Bitcoin has again attained a high point at $10,400 in its striving bid to outpace theUS dollar.
- The $10,400 price line now seems to be a critical zone for further bullish upswing in the BTC/USD market operations.
- A spike from the $10,400 price line needs to go with stable sustainability in motion.
Major supply zones: $10,800, $11,200, $11,600
Major demand zones: $9,200, $8,800, $8,400
Bitcoin (BTC) Price Analysis
The trade valuation of Bitcoin has again attained a high point at $10,400 in its striving bid to outpace the worth of the US dollar in the global cryptocurrency market. A few days back, the crypto was a bit down, averaging a low value of $9,600.
The currency pair now trades around the $10,400 price line as it appears to open to a kind of small oscillation movement. That presently depicts a critical zone for a further bullish upswing in the BTC/USD market operations.
Bitcoin Technical Indicators Reading
In the last many hours back, the BTC/USD price has been trading over the due trading SMA indicators. The 14-day SMA trend-line is above the 50-day SMA trading indicator. And, they both still slightly point to the north.
As it has been, the SMAs yet indicate that the market movement path to the north is not totally out of force. Meanwhile, the Stochastic Oscillators have just dipped into the overbought region to suggest a mere loss of strength in the bulls’ driving mote.
The most valuable crypto may have to take time to surge past its current supply zone to the north. In the same vein, the bears may also find an entry point around the $10,400 price line. In other words, a breakout of the point mentioned earlier needs to go with stable sustainability in motion.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.