Sep 16, 2019
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Bitcoin Price (BTC) Approaching Next Break, $10,250 Holds Key

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  • Bitcoin price is currently consolidating above the $10,300 level against the US Dollar.
  • The price seems to be struggling to break the $10,400 and $10,500 resistance levels.
  • There is a breakout pattern forming with resistance near $10,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price could either climb above $10,400 or it might start a fresh decline below $10,250.

Bitcoin price is holding an important support near $10,300 against the US Dollar. BTC could rise steadily towards $10,500 as long as it is above $10,250 and $10,300.

Bitcoin Price Analysis

Recently, bitcoin struggled to gain momentum above the $10,400 resistance area against the US Dollar. The last swing high was formed near $10,437 before the price started a downside correction. On the other hand, there was a solid upward move in Ethereum above the $185 and $186 resistance levels. At the outset, BTC price is trading well below the $10,400 resistance level.

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