Bitcoin price started a decent recovery wave above the $10,200 resistance against the US Dollar. BTC is still struggling near $10,500, but dips are likely to remain supported near $10,200.
Bitcoin is currently correcting lower from the $10,500 resistance zone. It is trading below the 100 hourly simple moving average and approaching the $10,200 support. There is a connecting bullish trend line forming with support near $10,240 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to find a strong buying interest near the $10,200 and $10,150 levels. Bitcoin Price Approaching Key Supports
Yesterday, we saw a decent recovery wave in bitcoin price above the $10,200 resistance against the US Dollar. BTC even broke the 100 hourly simple moving average and spiked above the $10,400 resistance.
However, the bulls failed to gain strength and the price remained below the $10,500 resistance. A high is formed near $10,492 and the price is currently