Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD Holds $10,000 While Other Markets Tumble

Bitcoin (BTC) Price Prediction – September 9

The Bitcoin price remains above $10,000 while most crypto assets are in the red.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $11,000, $11,200, $11,400

Support Levels: $9,100, $8,900, $8,700

BTCUSD – Daily Chart

BTC/USD is slightly in the green after adjusting from the short term support at $9,983. On the upside, BTC/USD was rejected at $9,700 during the weekend session. The price is currently above $10,000 but buyers have eyes on the first key hurdle at $10,300 and later the grand prize of trading above the coveted $10,500.

Where is BTC Price Going Next?

From a technical perspective, can traders really say Bitcoin (BTC) is back into the hands of the bulls? The technical indicator RSI (14) has embraced support below the 40-level. If the indicator can continue with the upward trend, the price could also push towards $10,400. On the other hand, the gap between the 9-day moving average and the 21-day moving average suggests that the upward movement is yet to come into play in the coming sessions.

Nevertheless, BTC/USD is settling in a tight range limited by $9,800 on the downside and $10,300 on the upside. If the market price breaks above the moving averages, BTC/USD may likely hit the potential resistance levels at $11,000, $11,200, and $11,400 while the supports are located below the lower boundary of the channel at $9,500, $9,300, and $9,100 respectively.

BTC/USD Medium – Term Trend: Bearish (4H Chart)

Looking at the 4-hour chart, BTC/USD is seen following a downward move above the 9-day and 21-day moving averages. However, the coin may continue to depreciate if the $10,000 support is broken one more time. This may likely cause the Bitcoin price to fall below the moving averages which may likely reach the critical supports at $9,800, $9,600, and $9,400 respectively.

BTCUSD – 4 Hour Chart

On the other hand, if the bulls regroup and hold the current price tight, BTC/USD may likely cross above the upper boundary of the channel to hit the potential resistance at $10,700, $10,900, and $11,100 levels as the technical indicator RSI (14) moves around 48-level, which may likely give additional bullish signals.

Read next

InsideBitcoins uses cookies to improve and customize your user experience. Learn more

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.