Bitcoin Price Analysis: Bears look set to test key support circa $10,080
2020-02-15T12:00:38Z
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The BTC sellers have regained control on Saturday, after attempting another test of a new five-month high reached at 10,511.86 last Thursday. Bitcoin

  • BTC sellers return on Saturday amid profit-taking spree.
  • Technical set up paints a bearish picture in the near-term.
  • BTC/USD hit a new five-month high at 10,511.86 on Thursday.
  • BTC sellers return on Saturday amid profit-taking spree.
  • BTC sellers return on Saturday amid profit-taking spree.
  • Technical set up paints a bearish picture in the near-term.
  • Technical set up paints a bearish picture in the near-term.
  • BTC/USD hit a new five-month high at 10,511.86 on Thursday.
  • BTC/USD hit a new five-month high at 10,511.86 on Thursday.

    The BTC sellers have regained control on Saturday, after attempting another test of a new five-month high reached at 10,511.86 last Thursday. Bitcoin (BTC/USD), the most favorite cryptocurrency, holds the lower ground on the 10k level, extending its recent consolidative mode. The spot, currently, exchanges hands at 10,240, losing 1.30% on the day while up nearly 4.50% on a weekly basis. Its market capitalization stands at to $186.27 billion, at the time of writing.

    cryptocurrency

    Technical Overview

    BTC/USD hourly chart

    As observed in the hourly chart, the price wavers in a narrow range between 10,300-10,200 so far this Saturday, having witnessed a 180-pips steep drop in the overnight trades. Since then the price has kept its range below the 21-hourly Simple Moving Average (SMA), now at 10,293 levels. Only a sustained break above the latter would revive the bulls in the near-term, paving the way towards the multi-month tops.  

    However, the prices, as of now, continue to battle the key resistance located around 10,250, the confluence of the 50 and 100-HMAs. Meanwhile, the hourly Relative Strength Index (RSI) has breached the mid-line from above and points south, suggesting that the downside appears more compelling.

    resistance

    Also, the No.1 coin lacks significant support, as the bears now look forward to testing the next support of 200-HMA at 10,076, around which the buyers found support in the last two trading sessions.   

    BTC/USD key levels to watch

    BTC/USD

    Overview
    Today last price 10238.60
    Today Daily Change -129.10
    Today Daily Change % -1.25
    Today daily open 10369.38
     
    Trends
    Daily SMA20 9623.66
    Daily SMA50 8664.39
    Daily SMA100 8166.18
    Daily SMA200 8879.52
     
    Levels
    Previous Daily High 10392.42
    Previous Daily Low 10101.44
    Previous Weekly High 10511.86
    Previous Weekly Low 9707.96
    Previous Monthly High 9568.13
    Previous Monthly Low 6856.63
    Daily Fibonacci 38.2% 10281.27
    Daily Fibonacci 61.8% 10212.59
    Daily Pivot Point S1 10183.07
    Daily Pivot Point S2 9996.76
    Daily Pivot Point S3 9892.08
    Daily Pivot Point R1 10474.06
    Daily Pivot Point R2 10578.74
    Daily Pivot Point R3 10765.05

     

    BTC/USD

    Overview
    Today last price 10238.60
    Today Daily Change -129.10
    Today Daily Change % -1.25
    Today daily open 10369.38
     
    Trends
    Daily SMA20 9623.66
    Daily SMA50 8664.39
    Daily SMA100 8166.18
    Daily SMA200 8879.52
     
    Levels
    Previous Daily High 10392.42
    Previous Daily Low 10101.44
    Previous Weekly High 10511.86
    Previous Weekly Low 9707.96
    Previous Monthly High 9568.13
    Previous Monthly Low 6856.63
    Daily Fibonacci 38.2% 10281.27
    Daily Fibonacci 61.8% 10212.59
    Daily Pivot Point S1 10183.07
    Daily Pivot Point S2 9996.76
    Daily Pivot Point S3 9892.08
    Daily Pivot Point R1 10474.06
    Daily Pivot Point R2 10578.74
    Daily Pivot Point R3 10765.05

    BTC/USD

    Overview
    Today last price 10238.60
    Today Daily Change -129.10
    Today Daily Change % -1.25
    Today daily open 10369.38
     
    Trends
    Daily SMA20 9623.66
    Daily SMA50 8664.39
    Daily SMA100 8166.18
    Daily SMA200 8879.52
     
    Levels
    Previous Daily High 10392.42
    Previous Daily Low 10101.44
    Previous Weekly High 10511.86
    Previous Weekly Low 9707.96
    Previous Monthly High 9568.13
    Previous Monthly Low 6856.63
    Daily Fibonacci 38.2% 10281.27
    Daily Fibonacci 61.8% 10212.59
    Daily Pivot Point S1 10183.07
    Daily Pivot Point S2 9996.76
    Daily Pivot Point S3 9892.08
    Daily Pivot Point R1 10474.06
    Daily Pivot Point R2 10578.74
    Daily Pivot Point R3 10765.05

    BTC/USD

    Overview
    Today last price 10238.60
    Today Daily Change -129.10
    Today Daily Change % -1.25
    Today daily open 10369.38
     
    Trends
    Daily SMA20 9623.66
    Daily SMA50 8664.39
    Daily SMA100 8166.18
    Daily SMA200 8879.52
     
    Overview
    Today last price 10238.60
    Today Daily Change -129.10
    Today Daily Change % -1.25
    Today daily open 10369.38
    Overview Overview Overview Today last price 10238.60 Today Daily Change -129.10 Today Daily Change % -1.25 Today daily open 10369.38 Today last price 10238.60 Today last price10238.6010238.60 Today Daily Change -129.10 Today Daily Change-129.10-129.10 Today Daily Change % -1.25 Today Daily Change %-1.25-1.25 Today daily open 10369.38 Today daily open10369.3810369.38
     
    Trends
    Daily SMA20 9623.66
    Daily SMA50 8664.39
    Daily SMA100 8166.18
    Daily SMA200 8879.52
    Trends Trends Trends Daily SMA20 9623.66 Daily SMA50 8664.39 Daily SMA100 8166.18 Daily SMA200 8879.52 Daily SMA20 9623.66 Daily SMA209623.669623.66 Daily SMA50 8664.39 Daily SMA508664.398664.39 Daily SMA100 8166.18 Daily SMA1008166.188166.18 Daily SMA200 8879.52 Daily SMA2008879.528879.52
     
    Levels
    Previous Daily High 10392.42
    Previous Daily Low 10101.44
    Previous Weekly High 10511.86
    Previous Weekly Low 9707.96
    Previous Monthly High 9568.13
    Previous Monthly Low 6856.63
    Daily Fibonacci 38.2% 10281.27
    Daily Fibonacci 61.8% 10212.59
    Daily Pivot Point S1 10183.07
    Daily Pivot Point S2 9996.76
    Daily Pivot Point S3 9892.08
    Daily Pivot Point R1 10474.06
    Daily Pivot Point R2 10578.74
    Daily Pivot Point R3 10765.05
    Levels
    Previous Daily High 10392.42
    Previous Daily Low 10101.44
    Previous Weekly High 10511.86
    Previous Weekly Low 9707.96
    Previous Monthly High 9568.13
    Previous Monthly Low 6856.63
    Daily Fibonacci 38.2% 10281.27
    Daily Fibonacci 61.8% 10212.59
    Daily Pivot Point S1 10183.07
    Daily Pivot Point S2 9996.76
    Daily Pivot Point S3 9892.08
    Daily Pivot Point R1 10474.06
    Daily Pivot Point R2 10578.74
    Daily Pivot Point R3 10765.05
    Levels Levels Levels Previous Daily High 10392.42 Previous Daily Low 10101.44 Previous Weekly High 10511.86 Previous Weekly Low 9707.96 Previous Monthly High 9568.13 Previous Monthly Low 6856.63 Daily Fibonacci 38.2% 10281.27 Daily Fibonacci 61.8% 10212.59 Daily Pivot Point S1 10183.07 Daily Pivot Point S2 9996.76 Daily Pivot Point S3 9892.08 Daily Pivot Point R1 10474.06 Daily Pivot Point R2 10578.74 Daily Pivot Point R3 10765.05 Previous Daily High 10392.42 Previous Daily High10392.4210392.42 Previous Daily Low 10101.44 Previous Daily Low10101.4410101.44 Previous Weekly High 10511.86 Previous Weekly High10511.8610511.86 Previous Weekly Low 9707.96 Previous Weekly Low9707.969707.96 Previous Monthly High 9568.13 Previous Monthly High9568.139568.13 Previous Monthly Low 6856.63 Previous Monthly Low6856.636856.63 Daily Fibonacci 38.2% 10281.27 Daily Fibonacci 38.2%10281.2710281.27 Daily Fibonacci 61.8% 10212.59 Daily Fibonacci 61.8%10212.5910212.59 Daily Pivot Point S1 10183.07 Daily Pivot Point S110183.0710183.07 Daily Pivot Point S2 9996.76 Daily Pivot Point S29996.769996.76 Daily Pivot Point S3 9892.08 Daily Pivot Point S39892.089892.08 Daily Pivot Point R1 10474.06 Daily Pivot Point R110474.0610474.06 Daily Pivot Point R2 10578.74 Daily Pivot Point R210578.7410578.74 Daily Pivot Point R3 10765.05 Daily Pivot Point R310765.0510765.05