Bitcoin price broke the $10,500 resistance, but it struggled to settle above it against the US Dollar. BTC is currently holding the $10,200 support, below which the bears could gain strength.
Bitcoin is currently facing hurdles near the $10,400 and $10,500 resistance levels. It is trading near the 100 hourly simple moving average and well above the $10,200 support. There was a break below a major bullish trend line with support near $10,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must gain momentum above the $10,500 resistance to continue higher towards $11,000. Bitcoin Price is Facing Hurdles
In the past two days, bitcoin price recovered above the $10,400 level against the US Dollar. BTC even broke the $10,500 resistance and settled above the 100 hourly simple moving average.
However, the bulls failed to gain strength above $10,500. A high was formed near $10,573 and the price trimmed most its gains. It broke