Yesterday saw Bitcoin’s (BTC) price stay below the $10,000 support after another round of volatility sent the world’s number one crypto plummeting.
Bitcoin price movement
However, at the time of writing today, Bitcoin’s price is back up above the $10,000 psychological barrier. BTC is currently up by 2.57% and trading at $10,160.57 as per data from CoinMarketCap.
Yesterday saw bitcoin’s price starting along with a robust rise after trading as low as $9,637. BTC is trading steadily above the $10,100 area but analysts believe that the crypto will face hurdles close to the $10,400 level.
Notably, there was a break above a crucial bearish trend line with resistance near $10,150 on BTC/USD’s hourly chart.
Currently, BTC is correcting lower towards the $10,150 and $10,100 support levels.
For bitcoin to see more gains in the short term, the price will need to surpass the $10,400 resistance.
Yesterday saw a sharp decline for BTC below the $10,000 support. Furthermore, BTC’s price traded below the $9,800 support. Moreover, a fresh weekly low formed at $9,637 with the price recently starting a strong path to recovery. There was also a break above the $10,000 resistance and a close above the 100 hourly simple moving average.
This price action opened the doors for more gains above the $10,100 and $10,200 levels.
Altcoin markets rally
The altcoins markets, for the most part, are all seeing modest gains today except Ethereum. Ether (ETH) is up by a stellar 4% and trading at $216.82. Bitcoin Cash (BCH) is up by 1.96% and selling at $317.60, Litecoin is up by a modest 1.34% selling at $75.50 and EOS is up by 0.75% and selling at $3.91.
Binance’s BNB token is up by 1.77% and changing hands at $21.34 and Bitcoin Satoshi’s Vision aka Bitcoin SV (BSV) is up by 1.64% and being sold at $122.59 per coin.
The only altcoins recording losses on the day are XRP, which is down by 0.25%, selling at $0.294836 and Stellar (XLM) which is down by 7.24% and changing hands at $ 0.076933.