BTC Signals Continuous Weaknesses, Moving Lower And Lower

The latest Bitcoin and altcoin news show that while the market is not dumping a lot of money in losses, there are still some signs of a weak trend. For example, the recent BTC signals show that the price of the most dominant cryptocurrency is moving lower and is trading below the $10,250 resistance against the US dollar.

This price is likely to extend its decline and visit the levels below $10,000 in the coming sessions. Right now, there is a major declining channel that is forming with resistance near $10,100 on the hourly chart of the BTC/USD pair.

Some of the best cryptocurrency news sites reported that the BTC signals show a downtrend for the price of Bitcoin – something that first started when Bitcoin lost its $10,500 levels. The price settled below ,400 and the 100 hourly simple moving average.
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The recent decline, however, was such that the price spiked below the $10,000 level. There were also spikes below $9,900 but Bitcoin (BTC) managed to regain its strength and at least hold up to the five-digit values.

In addition to this, the altcoin news show no signs of strength at all – proving that the BTC signals are very much connected to the altcoin signals. The price of Bitcoin right now needs to climb above the $10,200 and the $10,250 resistance levels in order to start a decent recovery.

If there is no break on the upside, the price of Bitcoin could continue to move down towards the $10,000 and $9,900 levels. A downside break below the $9,893 swing low could additionally push the price of BTC towards the $9,800 support area and trigger the BTC signals for a lower push towards the $9,500 level.

When looking at the charts, we can see that the price of Bitcoin is quite bearish nowadays, showing a momentum that is kept around the $10,200 mark. Therefore, the chances of a bearish break are higher and higher – and the main target for the BTC bears could be $9,650 or even $9,500.

The technical indicators are as following:

• Hourly MACD – The MACD is looking ready to move back in the bear zone.
• Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is set to break above 50.
• Major Support Levels – $10,000 and then $9,900.
• Major Resistance Levels – $10,200, $10,250 and then $10,350.

In the coming altcoin news today, the biggest loser is Litecoin (LTC), dumping around 3% of its price and going down to $69.