Bitcoin Price Analysis: BTC Testing Last Line Of Defense

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Bitcoin price started a major downside correction after it traded as high as $10,954 against the US Dollar. The price is currently trading near a major support area at $10,000, which holds the key. There is a major bullish trend line forming with support near $10,000 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair remains well supported on dips near the $10,000 and $9,800, below which it could gain bearish momentum. Bitcoin price is struggling to bounce back above $10,500 against the US Dollar. BTC must stay above $10,000 and $9,800 to bounce back in the coming sessions. Bitcoin Price Analysis This past week, bitcoin price climbed higher above the $10,800 level against the US Dollar. The BTC/USD pair even traded close to the $11,000 level. However, it failed to continue higher and topped near the $10,954 level. Recently, there was a fresh decline…

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