Binance DEX is one of the sought-after trading platforms within the cryptocurrency community, and every project wishes to get listed on that. Paycent, the first crypto-fiat debit card has managed to achieve this, as the company’s PYN tokens go live on Binance DEX on September 3, 2019. To mark the occasion, and to promote the project further, has announced a 45-day long trading contest with and prizes on offer. In what it calls the biggest trading contest in the history of crypto, Paycent is planning to give away close to $1,000,000 worth of gifts and merchandise which includes a $350,000 Bentley Bentyaga automobile, gold bar weighing a kilogram, 5 Rolex Cosmograph Daytona watches and 500 more tangible gifts. The contest is open for PYN token holders and traders, and in order to qualify they should open an account on Binance DEX, deposit their BNB and start trading the . Speaking about the new development and the trading contest, General Manager at Paycent Helen Laylo said, “We have the best community, their great commitment and engagement allowed us to get listed on Binance DEX. We want to show how we care, so let’s celebrate this great milestone participating in the biggest giveaway in the history of crypto. We tried to pick the prizes that will leave their mark and stay with those who win them. Having designed the trading competition in a way that gives every single trader the chance to win the main prize, we hope PYN-C37 traders and holders will enjoy the process, because this contest is worth it.” Paycent has already gained recognition as a crypto-fiat debit card provider, with over 82,000 such cards issued to its customers. Among the prizes offered to the contest participants include preloaded Paycent cards, iPhone XR smartphones, with winners declared every 4, 12 and 24 hours respectively. Then there are the weekly lucky draws, where winners are picked out of the trading pool. Winners in this weekly draw stand to gain luxury trips to hottest global destinations, 4K LED TVs, drones and much more. With the contest starting Sep 3, 2019, it will go on till Oct 17, 2019, and at the end of Week 6, the participant with the highest trading volume will win the dream-come-true Bentley Bentyaga SUV, followed by 1 KG gold bar to the second-highest combined volume trader. 3rd to 7th places will receive Rolex Cosmograph Daytona watches worth $20,000 each. All-time highest PYN-C37 holders will share 5 cutting edge Intel Extreme Processors, 5 Epson home cinema projectors and 10 top-notch gaming consoles. Other prizes include Paycent global crypto-fiat prepaid cards loaded with amounts ranging from $1000 to $7500, Bose music systems and headphones, Trezor/Ledger wallets, Samsung hard drives, Apple Watches, Oculus headsets, MacBook Pro 2019 and MSI gaming machines. More information about Paycent and the trading contest is available on the . The post appeared first on .
Bitcoin and the aggregated crypto markets have incurred a significant amount of upwards momentum over the past few days that has allowed BTC to put a significant amount of distance between its current price and its recent lows of $9,100. Now, one Bitcoin advocate is claiming that there is a high possibility that the crypto runs as high as $15,000 in the next week or so, and the crypto’s technical formations may support this possibility. Bitcoin Runs Towards $11,000 as Buying Pressure Builds At the time of writing, is trading up over 1% at its of $10,945, which is up significantly from its daily lows of $10,600, which were set yesterday after a short period of choppy trading. Importantly, this upwards momentum has sent BTC up to a key resistance level of $11,000, which was the price at which the cryptocurrency faced a swift rejection at a couple weeks ago. Currently it remains unclear as to whether or not this price level will once again be a strong region of resistance, but any significant rejection here may invalidate the bullishness has been incurring as of late, and send it reeling lower. Despite this, Max Keiser, an incredibly popular figure within the cryptocurrency industry, explained in a recent tweet that he believes that low-confidence in centralized institutions could push BTC towards $15,000 in the very near future. “I’m sensing #Bitcoin will cross $15,000 this week. Confidence in central governments, central banks, and centralized, fiat money is at a multi-decade low,” he explained. I’m sensing will cross $15,000 this week. Confidence in central governments, central banks, and centralized, fiat money is at a multi-decade low. — Max Keiser, tweet poet. (@maxkeiser) Technical Analysis May Support Keiser’s Theory Although a surge from below $11,000 to over $15,000 seems somewhat farfetched, it may actually be quite plausible while considering the bullish BTC has been incurring. Josh Olszewicz, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that a follow through on some bullish technical signals could lead Bitcoin as high as $18,500 in the near-future. “4h $BTC: e2e nearly complete now, had a few things to support prob of success: – bullish tk cross – confluence w/pattern formation (A&E) – past few convincing 4h kumo breakouts since april have been 40%-70% moves moves, would be 15-18.5 in this case,” he explained in a recent tweet. 4h e2e nearly complete now, had a few things to support prob of success:– bullish tk cross– confluence w/pattern formation (A&E) past few convincing 4h kumo breakouts since april have been 40%-70% moves moves, would be 15-18.5 in this case — Josh Olszewicz (@CarpeNoctom) As the week wraps up, it is highly probable that analysts and investors alike will soon gain greater insight into whether or not Bitcoin is ready to begin a fresh upwards surge. Featured image from Shutterstock. The post appeared first on .
Bitcoin (BTC) has managed to extend its gains into the weekend. As of the time of writing this report, the cryptocurrency is trading at $10,850, having flirted with prices a tad higher than $11,000 on Saturday. Related Reading: According to a growing number of industry analysts, there is growing evidence to back up the idea that Bitcoin is poised to embark on another leg higher, despite the harrowing cries for a return to $6,000 and even lower. Bitcoin Needs $11,000 Bitcoin has been somewhat on a tear as of late. Over the past seven days, the cryptocurrency has gained around 13%. While the exact catalyst is unclear, it seems that this recent recovery was somewhat triggered by recently-published tweets from Donald Trump about the China trade war. In fact, the latest leg higher coincided with the release of one tweet that also sent gold, Japanese Yen, and Swiss Franc higher. analyst Nick Cote, Bitcoin is nearing the point where it may reenter its “bull run” phase. In fact, he writes that should Bitcoin turn the $11,100 to $11,300 region into support, meaning a strong close maybe on the daily and weekly, a move higher would totally make sense. He writes, “[a] weekly engulfing for the bulls has usually had a follow through the following week”. Simple yet god tier analysis: Bull run is back on above the $11.1 – 11.3k level if turned support. Weekly engulfing for the bulls has usually had a follow through the following week. — Nick Cote (@mBTCPizpie) A close above that level would negate the losses sustained last week, meaning that bulls can resume their foray to the upside. Cote isn’t the only one with this analysis. Trader Cantering Clark noted that “a confluence of key factors and […] order flow” are in favor of buyers, and that he doesn’t expect resistance until the $11,200 region. If you were part of the community you know why you should be well into your long by now. A confluence of key factors and both passive and active order flow very much in the favor of the buy side of the market. I am longing any dips currently until 10.1 breaks — Cantering Clark (@CanteringClark) Also, there have been chartists that have pointed out that the current short-term bottoming process looks like an “Adam and Eve” pattern. For those who are unaware, an “Adam and Eve” is a bottoming process that sees two tests of the same level, one sharp drop and one drawn-out decline. Should the pattern play out, Bitcoin may soon rally from these levels to leave the bottoming process in the dust. Per, BTC saw its one-day Moving Average Convergence Divergence (MACD), an indicator that tracks trends, experience a bullish crossover, printing a green candle on the histogram. Related Reading: As McCann points out in the chart above, the last two times that Bitcoin has seen this signal in this cycle was preceding two three-weeks surges to the upside of 52% and 61%. Should history repeat itself, BTC could surge to around $17,000 by the end of August, riding on the back of bullish momentum. The Bear Argument While there are more and more individuals on Twitter starting to flip bullish once again, it isn’t all sunshine and rainbows, so to speak. Related Reading: Analyst has recently mentioned that now isn’t the time to “panic buy”, referencing his belief that Bitcoin should return more sustainable levels around the $6,000 region. He believes that a move lower is more sustainable for Bitcoin, helps the asset maintain its long-term trend lines, reduces volatility, and ensures better price discovery. Now is not the time to panic buy. Until price shows a decisive break from the previous correction, it's best to wait it out. Notice both time-wise and price-wise, this pattern is still within the parameters of the previous~ — dave the wave (@davthewave) Featured Image from Shutterstock The post appeared first on .
Halving events for cryptocurrencies are commonly referred to as catalysts that typically spark bull movements due to the fundamental strength they contribute to individual cryptocurrencies. Litecoin (LTC) is currently under two days away from its halving event, which has been widely viewed as a bullish event. Despite this, analysts are noting that Litecoin investors may be gravely disappointed by the crypto’s price action in the coming days and weeks, as it has previously faced significant selling pressure following its halving event. Litecoin Drops as Halving Hype Fades At the time of writing, is trading down just under 1% at its of $95.20 and is down slightly from daily highs of over $97. While zooming out and looking at Litecoin’s price action over a longer time frame, it is clear that the cryptocurrency is not being bolstered by the imminent , as it is currently down from its late-June highs of over $140. Josh Rager, a popular crypto analyst, recently explained that he believes Litecoin’s price action looks significantly less bullish than other cryptocurrencies, including Chainlink. “Comparing $LTC and $LINK for someone & thought I’d share. There are huge fans of both but right now $LINK is clearly the asset to be in even with the LTC halving upon us. LTC has been in a clear downtrend & unable to hold its own again BTC while LINK has responded well at support,” he noted. Comparing and for someone & thought I'd share There are huge fans of both but right now is clearly the asset to be in even with the LTC halving upon us LTC has been in a clear downtrend & unable to hold its own again BTC while LINK has responded well at support — Josh Rager (@Josh_Rager) Halving May Result in Multi-Month LTC Downtrend Another possibility that could scare LTC investors who are banking on a post-halving price surge is that it will actually result in a medium-term downtrend. Tadleer, another popular crypto analyst on Twitter, mused this possibility in a tweet, pointing to a chart that shows that during the last halving, Litecoin surged before the event before facing a post-event sell-off. “$ltc halvening is coming up, will history repeat itself?” He explained while referencing the below chart. halvening is coming up, will history repeat itself? — tadleer (@tadleer) As the halving draws closer, it is highly probable that analysts and investors alike will soon discover whether or not the event will truly be a , or if the hype will fade and leave a trail of bag holders in its wake. Featured image from Shutterstock. The post appeared first on .
Crypto markets are climbing as we start the weekend and once again Bitcoin is leading the charge. BTC has held on to gains in five figures and continues to eat into altcoin markets as dominance approaches 70 percent. Bitcoin Closes on $11k BTC has seen its fourth green candle in as many days as the asset continues to climb, making progress above the psychological $10k barrier. A few hours ago during Asian trading from a low of $10,300 to tap an intraday high of $10,860 marking a 5.4 percent gain on the day. The movement has taken BTC back to its highest level for two weeks. The momentum has left most of the altcoins in the digital dust once again as Bitcoin dominance knocks on the door of 70 percent. This equals the mid-July high and puts market share back at December 2017 levels. a few days ago as Bitcoin goes from strength to strength. BTC market dominance – Tradingview.com Analysts are now eyeing the next resistance levels which are around $11,200 with further upside breaks possibly reaching $11,500. On the downside, support lies at $10,400 and $10,000. Missing Out on Four Figures Since sentiment has turned bullish once again, many are wondering if they have missed out on four figure Bitcoin. The past couple of weeks have been bearish and a return to new lows is still a possibility. Trader and analyst Josh Rager pointed this out earlier. “30%+ pullback was a common theme last uptrend & great opportunity to buy at confirmed support.Everyone still wants $8k… & could happen.But ignoring to buy a 35% pullback on the best performing asset over the past ten years b/c it “may” hit 10% lower” 30%+ pullback was a common theme last uptrend & great opportunity to buy at confirmed support Everyone still wants $8k… & could happen But ignoring to buy a 35% pullback on the best performing asset over the past ten years b/c it "may" hit 10% lower Good luck — Josh Rager (@Josh_Rager) Binance boss Changpeng Zhao echoed the sentiment when he “Slap yourself, if you sold $BTC under $10,000.” Elsewhere on Crypto Markets Bitcoin’s dominance surge has left altcoin markets battered and bruised as most of them are in decline this morning. Ethereum has made a little gain and is back above $220 but there is very little going on in this camp to inspire confidence at the moment. XRP has retreated again and is back at a lowly $0.315 and Litecoin has lost fourth place as LTC dumps to $95. Halving is only two days away but there is no sign of any last minute rush to buy Litecoins. As a result Bitcoin Cash has retaken fourth with a 2 percent gain to $336. Monero is one of two only other major cryptocurrencies making a gain as XMR adds 5 percent. Chainlink it’s the other with a huge fomo pump of 23 percent on the day. Image from Shutterstock The post appeared first on .
Bitcoin and the aggregated crypto markets have been able to extend the upwards momentum that they have incurred over the past several days, which has allowed BTC to put some distance between its current prices and its recent lows of $9,100. Importantly, one analyst is now explaining that Bitcoin is forming its fourth monthly “Doji candle,” which is a sign of uncertainty; historically, the formation of several Doji candles precedes massive bull runs. Bitcoin Climbs to $10,600 as Buyers Flex Their Strength At the time of writing, is trading up nearly 6% at its of $10,620, which is up significantly from its 24-hour lows of below $10,000. Over the past seven days, BTC has incurred significant volatility that has led to the formation of a wide trading range, with weekly lows of $9,100 and highs around its current price. The key level that should be watched in the near-term is $11,000, as this is the price at which the cryptocurrency was rejected at a couple weeks ago when BTC rapidly surged to this price level before reeling all the way down to the lower-$9,000 region. Although it remains unclear as to whether or not Bitcoin will face a similar rejection as it nears $11,000, Raoul Pal, an economist and popular figure within the crypto community, recently noted that he believes BTC is a “great macro asset” presently. “Bitcoin is a rocket ship on the launch pad…very much lining up with the big macro picture…. It appears bitcoin is a great macro asset too right now,” he explained. is a rocket ship on the launch pad…very much lining up with the big macro picture…. It appears bitcoin is a great macro asset too right now — Raoul Pal (@RaoulGMI) Could BTC Be Gearing Up for a Parabolic Movement to $50,000? Assuming that BTC’s macro-picture does remain , it may currently be laying the groundwork for a movement to fresh all-time-highs of $50,000. Moon Overlord, a popular cryptocurrency analyst on Twitter, discussed this in a recent tweet, referring to a chart that elucidates the similarities seen between BTC’s current price action and that seen in years past. “There’s been 3 Doji monthly candles along the median long term regression line after bitcoin broke above it. After each one #bitcoin has tapped the top band. This month we’re forming our potential 4th doji / (uncertainty candle). A run to the top band would put $BTC at $50,000+,” he said. There's been 3 Doji monthly candles along the median long term regression line after bitcoin broke above it After each one has tapped the top band This month we're forming our potential 4th doji / (uncertainty candle) A run to the top band would put at $50,000+ — Moon Overlord (@MoonOverlord) As Bitcoin continues to react to its current position right below the key $11,000 level, it is highly likely that analysts and investors will soon gain greater insight into which direction the are heading next. Featured image from Shutterstock. The post appeared first on .
Tezos (XTZ) is proving to be a better near-term investment than bitcoin this week. The altcoin, accompanied by favorable fundamentals, has surged by 44 percent in the last four days as it looks to close the week at an even higher rate. As of 12:29 UTC, the instrument was trading at 1.452, up 3.71 percent in the last 24 hours. The move upside brought Tezos market capitalization to circa $962 million, which makes 0.40 percent of the entire cryptocurrency market valuation. At its highest, the cap was around $1.457 billion. Tezos has Surged 16% in the Previous 24 Hours | Image Credits: CoinMarketCap.com The surge accompanied a similar price action across the rest of the cryptocurrency market. Bitcoin, the world’s leading cryptocurrency, broke out of its interim bearish bias soon after the Federal Reserve by 25 bps. It further got a boost from US President Donald Trump’s of worth $300 billion on Chinese imports. Our representatives have just returned from China where they had constructive talks having to do with a future Trade Deal. We thought we had a deal with China three months ago, but sadly, China decided to re-negotiate the deal prior to signing. More recently, China agreed to… — Donald J. Trump (@realDonaldTrump) Altcoins, which typically move in tandem with bitcoin, surged likewise on the news. Ethereum, the second-largest cryptocurrency by market cap, was up 2.87 percent on a 24-hour timeframe. Other assets, including Bitcoin Cash, Litecoin, and Bitcoin SV also surged similarly. Nevertheless, Tezos reserved the title of the best performing crypto-asset this week after rising the maximum. It had great fundamentals fueling the price rally. Coinbase Integration On July 30, San Francisco-based cryptocurrency exchange Coinbase Pro announced that it is going to add Tezos to its trading platform. The move followed the addition of Tezos staking services to another Coinbase division, Coinbase Custody, injecting confidence in the market about the blockchain project’s growth potential in the US. “On Monday August 5, transfer XTZ into your Coinbase Pro account ahead of trading. Support for XTZ will be available in Coinbase’s supported jurisdictions, with the exception of New York State. Additional regions may be added at a later date,” — the announcement. The XTZ/USD instrument started posting gains right after the Coinbase announcement. On the day, the pair surged by as much as 26.97 percent – from $0.997 to $1.269. By the end third daily session, it had already extended its gains by setting a weekly high of $1.474. Court Controversy While Coinbase has lifted the spirits of Tezos bulls, some events could foul the cryptocurrency’s upside. Like Ripple, Tezos is currently facing a high-profile lawsuit from several investors who claim XTZ is a security, not a utility asset. Should the court agree with the plaintiffs, then trading XTZ on Coinbase – a US-based regulated exchange – would be illegal. Moreover, Tezos founder could be held accountable for selling securities without obtaining permission from the Securities and Exchange Commission. Such events could negate a large percentage of Tezos gains. The post appeared first on .
The total crypto market cap is gaining momentum above the $260.0B and $265.0B resistances. Bitcoin price is showing positive signs and it recently broke the key $10,200 resistance area. Binance coin (BNB) price is rising steadily and it recently broke the $28.00 resistance area. Litecoin (LTC) price tested the $100.00 resistance once again, but failed to continue higher. BCH price is moving higher once again towards the $330 and $335 resistance levels. Tron (TRX) price seems to be consolidating above the key $0.0220 support area. The crypto market cap and bitcoin (BTC) are currently trading with a bullish angle. (ETH), BNB, litecoin, , BCH, TRX, XLM and EOS could also climb higher. Bitcoin Cash Price Analysis After a short term correction, BCH price found support near the $320 level against the US Dollar. The BCH/USD pair is currently moving higher and it could rise towards the $330 resistance level. If there are more gains, the price could rise towards the $340 resistance level. If the price fails to continue higher, it could decline once again towards the $320 support. Therefore, if there are more losses, there are chances of a dip towards the $305 support area. Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis Binance coin (BNB) price started a steady rise from the $26.20 support level. BNB price broke the key $27.00 and $28.00 resistance levels. It even traded close to the $29.00 level and is currently correcting lower. The main support is near $28.00, followed by $27.80. On the upside, a break above $29.00 might push the price towards the $30.00 level. Litecoin price is trading in a positive zone, but it seems to be struggling to gain momentum above the $100.00 resistance. Moreover, LTC price made two attempts to break the $100.00 resistance, but it failed. It is currently consolidating above the $95.00 and $92.00 support levels. Tron price remains in a bearish zone below the $0.0230 resistance level. TRX price is under pressure and it might even break the $0.0220 support level once again. The next key supports are near $0.0210 and $0.0205, followed by the main $0.0200 barrier. Looking at the total cryptocurrency market cap 4-hours , there was a steady rise above the $260.0B and $265.0B resistance levels. There was even a close above the $270.0B resistance and the 100 simple moving average. On the upside, the next important resistance is near the $280.0B and $284.0B levels. A break above $284.0B might push the market cap towards $300.0B. Therefore, there could be more gains in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the coming sessions. The post appeared first on .
, a professional digital asset management service platform, announced the public sale of its native platform token (UAT) starting from August 12, 2019. With Han Liu, former VP at a $200B+ hedge fund giant as CEO, and Christina Jin, Co-founder of Ankr Network as CMO, UltrAlpha is designed to leverage the deep experience from both traditional finance and blockchain industries, and bring in a broad range of investment/trading products as well as fund admin services to different participants in the digital asset management market. Asset Management – Increasing Market Demand in Digital Asset Space Asset management typically refers to the management of investments on behalf of others. Factoring into investors’ investment objectives, horizon and their risk tolerance, the process in principle is designed to optimize asset allocation and achieve investment value appreciation over a certain period of time while mitigating risk. With the global policy development and adoption of digital assets underway, more professional asset management institutions are entering the digital asset trading market with different trading and investment strategies. In the meantime, more investors are contemplating on how to deploy their capital into this new asset class. However, due to the lack of formal broker-dealer structure in the digital asset industry, potential investors have limited access to good digital asset financial products for their investment needs. For digital asset trading teams or investment firms, it is also challenging for them to identify and reach out to the right investors for fundraising. As a result, there is a strong market demand for professional digital asset management service platform to not only give the potential investors a list of quality products or strategies for their selection but also effectively support fundraising and other fund admin services required by digital asset managers like trading teams and funds. UltrAlpha (UAT) – Multi-service Platform Built upon Robust Infrastructure and Deep Understanding of Client Needs Under current market conditions, digital asset exchanges are probably the most effective among all market participants to connect and serve both trading clients and investors. Built upon deep strategic collaboration with top tier digital asset trading platforms and brokers, UltrAplha is launching a professional investment management service platform aiming to provide potential investors with access to quality products based on their risk/return needs as well as trading teams and digital asset managers with a variety of fund admin services, including but not limited to account management, performance auditing, PL reporting, asset transfer, etc. As a professional digital asset management service platform, the UltrAlpha team have made its core mission to build out a multi-service platform based on process efficiency, robust infrastructure, and deep understanding of client needs and goals. UAT platform’s comprehensive service offering to trading/asset management teams: Work with all the professional asset management and trading teams to coordinate the launch of their investment/trading products. Seek to open up all those products to top-tier digital asset exchanges or trading platforms. A series of professional fund admin services, ranging from account management, performance audit to PL reporting as well as various other administrative support services per request. UAT platform’s comprehensive service offering to fund investors: Conduct independent due diligence (“DD”) on asset management fund and share DD result per request. Provide wallet management service for each investment product to safeguard client asset. Conduct fund performance audit and PL reporting for each investment product. Investors can utilize and consume UAT token on the platform for any inquiry, transfer, redemption and other administrative operational services on an ad-hoc basis. The activities of the UAT platform are of a supporting service nature, solely restricted to connecting trading teams/funds with their end customers, and shall not carry out any fund/securities management, financial advisory, investment, brokerage, deposit-taking or banking activities. Seasoned Team Building Unique Ecosystem with Innovative Token Economics UltrAlpha’s core teams of technology and operations come from traditional finance, Internet and Blockchain industries with solid experience in quant modeling, infrastructure buildout and digital asset trading operations. Computer science major from Carnegie Mellon University, Han Liu, CEO of UltrAlpha, has developed his successful career in traditional asset management industry from BlackRock to AQR Capital Management specializing in institutional application and platform development. Christina Jin, CMO of UltrAlpha, graduated from University of Auckland and New York University, with a degree in Digital Marketing. Christina co-founded Ankr Network and was nominated as the first CMO of Ankr project. Furthermore, the UltrAlpha team has introduced the platform native utility token, UAT, and integrated into the platform ecosystem to facilitate payment and incentive programs for all the services between the participants on the UAT platform. Dr. George Cao, Co-founder & CEO of (), shared his expertise and provided critical strategic advice on the overall design of token economics and model. has been widely recognized by the industry for its very first introduction of the “Transaction-mining & Reverse-mining” mechanism and has successfully established itself as the leading digital asset trading platform. Its highly reputable token economics has built-in incentive mechanisms, including reverse-mining and token consumption to balance the demand and supply and the design of Data Usage Reward Distribution Pool that supports longer-term token value. (Please note that and UltrAlpha are completely two separate businesses). Conclusion In summary, the launch of UltrAlpha is a promising indicator where the digital asset industry is further building out the necessary market components to serve dynamic changing needs and support longer-term industry growth. By connecting potential investors with digital asset managers and providing value-added services over the robust and transparent platform, UltrAlpha has clearly set a new standard for a professional service provider in the expansion and development of this new digital asset management space. The post appeared first on .
Bitcoin price climbed higher recently and broke the $10,000 resistance area against the US Dollar. The price retested the $10,200 resistance area and it is currently correcting lower. There was a break below a short term ascending channel with support near $10,020 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently correcting lower, but dips remain supported near the $9,850 and $9,800 levels. Recently, there was a nice upward move in bitcoin price above $10,000 against the US Dollar. BTC price retested the main $10,200 resistance level and it is currently correcting gains. Bitcoin Price Analysis Yesterday, we in bitcoin price above $10,000 against the US Dollar. The BTC/USD pair did gain momentum above the $9,800 resistance and the 100 hourly simple moving average. Moreover, the pair broke the $10,000 resistance level and revisited the $10,200 resistance. A swing high was formed near $10,182 and the price is currently correcting lower. It traded below $10,100 plus the 23% Fib retracement level of the recent rise from the $9,645 low to $10,182 high. Moreover, there was a break below a short term ascending channel with support near $10,020 on the hourly chart of the BTC/USD pair. The pair is now trading near the $10,000 level, with an immediate support near the $9,940 level. Additionally, the next key support is near $9,910 plus the 50% Fib retracement level of the recent rise from the $9,645 low to $10,182 high. The main support is near the $9,850 level. If there is a below the $9,850 support, the price could revisit the $9,650 level. The 100 hourly SMA is also waiting near the $9,640 level. Any further losses might push the price towards the $9,300 zone. It represents the 1.236 Fib extension level of the recent rise from the $9,645 low to $10,182 high. On the upside, an immediate resistance is near the $10,050 level, above which the price is likely to retest the $10,200 resistance level. Therefore, the bulls need to gain strength above the $10,180 and $10,200 resistance levels in the near term for further gains. Looking at the , bitcoin price is clearly trading with a positive bias above the $9,900 and $9,850 levels. Conversely, if there is a fresh decline, the bulls are likely to protect the $9,640 support level. On the upside, a clear break above $10,200 will most likely set the pace for a move towards $10,500. Technical indicators: Hourly MACD – The MACD is slowly gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently declining lower towards the 50 level. Major Support Levels – $9,910 followed by $9,850. Major Resistance Levels – $10,050, $10,200 and $10,500. The post appeared first on .