Bitcoin price formed a strong support base above $10,000 against the US Dollar. BTC is currently correcting above $10,500, but it is likely to face a strong resistance near $10,800 and $11,000.
Bitcoin is slowly recovering higher above the $10,400 and $10,500 resistance levels. The price is likely to struggle near $10,800 and the 100 simple moving average (4-hours). There is a key rising channel forming with support near $10,400 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair must settle above the $11,000 resistance to move into a positive zone. Bitcoin is Showing Positive Signs
This past week, bitcoin made a few attempts to clear the $10,000 and $9,880 support levels against the US Dollar. However, BTC failed to close below $9,880 and recently formed a strong support base above $10,000.
A decent recovery wave is underway and the price already climbed above the $10,200 and $10,400 resistance levels. There was a break