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Bitcoin Price Prediction: BTC/USD Consolidating Around $10,300; Is the Sell-Off Over

BTC/USD is currently trading around $10,300 with a 1.29% gain in the past 24-hour. According to the daily chart, since the beginning of today’s trading, the Bitcoin price fights to stay above the important level of $10,000. More so, for BTC/USD to remain above $10,200 for the past 12 hours today, it has made many traders feel that the $10,000 support level could be pretty strong.

Where is BTC Price Going Next?
BTC/USD touches the daily low of $10,000 today, if the number-one crypto breaks below this level, it could test the next support lines at $9,800 and $9,600. Alternatively, Bitcoin has to reclaim the first resistance at $10,350 to head upwards. If successful, the primary cryptocurrency could aim at $11,000, followed by $11,200, and $11,400 resistance levels.

However, looking at the RSI (14) in the daily range, BTC/USD is not done with the downside. Despite the drop suffered, the RSI (14) is not yet in the oversold region. This means that there may still be a room that could be explored by the bears. If this happens, the critical supports at $9,300, $9,100, and $8,900 may be visited.

On the upside, recovery may not come easy. Therefore, traders must be aware that support will have to be sort for above $10,300 while the other seller congestion zones to keep in mind include $11,000, $11,200, and $11,400 resistance levels.

Reference by: Azeez Mustapha