Bitcoin Price Analysis: BTC/USD Big Picture, Why $10,000 Must Come Down For Further Gains?

Published by
Bitcoin Price Analysis: BTC/USD Big Picture, Why $10,000 Must Come Down For Further Gains?
  • Bitcoin is focusing on sustaining the uptrend but a break above the long term trendline is critical for continued growth.
  • BTC/USD must hold above the 50 SMA in the weekly range to avoid possible declines likely to test triangle support.

Bitcoin is facing the ongoing struggle under $9,000 simply because it failed to break above the key downtrend (check the descending trendline on the chart) several times. The weekly chart widens Bitcoin’s technical picture and we can clearly see what the buyers must do to keep the bullish momentum intact.

Interestingly, the market can be said to be bullish despite the lower swing highs and swing lows. For instance, BTC/USD is currently trading above the 50-day SMA (functioning as immediate support). The 50 SMA is above 100 SMA which is also above the longer-term 200 SMA, all of which point towards a bullish market.

The way the situation is, Bitcoin is coming from a stronger bullish market, although it failed to break the downtrend. Its main aim, for now, is to continue nurturing the uptrend and to do so, the price has to break the downtrend line. In other words, the action at the downtrend line remains very vital to further upward movement in the near term.

In the event, the price bounces off the downtrend line, Bitcoin would start to spiral under the 50 SMA as well as the 100 SMA. Extended declines could also test the 200 SMA and the triangle support. A break, particularly, below the triangle support would signal the beginning a stronger downtrend.

Advertisement

BTC/USD weekly chart

BTC/USD price chart by Tradingview

From a different technical perspective, Bitcoin is currently in the hands of the bulls as observed using the MACD. The indicator has recovered from the recent dip and is now settling above the mean line. This shows that bulls are in the driver seat, waiting for a technical breakout. However, low volume and many bulls waiting for a confirmed breakout continue to delay BTC/USD progress.

Bitcoin Intraday Key Levels

Spot rate: 8,839

Relative change: -5

Percentage change: -0.05

Trend: Bullish

Volatility: Expanding

High: $8,893

Low: 8,812

 

Advertisement
Share
John Isige

John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Pi Coin Gains Another 15% As Pi Network Joins ISO 20022 For Seamless Banking Integration

Pi Network's native cryptocurrency, Pi Coin, is getting major attention with a continued rally upwards,…

October 29, 2025
  • News

Bitwise Solana Staking ETF (BSOL) Makes Record Debut with $69.5M Inflows, $289M NAV

Bitwise Solana Staking ETF (BSOL) makes an impressive debut with massive inflows and trading volumes,…

October 29, 2025
  • News

Trump Insider Whale Reloads $430M Long on BTC, ETH Ahead of Tomorrow’s Fed Rate Cut Decision

The “Trump Insider whale” has reportedly opened a $430 million long position in Bitcoin and…

October 29, 2025
  • News

Breaking: $2.6B Western Union Announces Plans for Solana-Powered Stablecoin by 2026

Western Union has announced plans to launch a U.S. dollar-backed stablecoin built on the Solana…

October 28, 2025
  • News

Trump Media Launches Polymarket Rival, Eyes $9B Prediction Market with Crypto.com

Trump Media & Technology Group has announced a partnership with Crypto.com to launch Truth Predict.…

October 28, 2025
  • News

Bitget Lists Common Token, Launchpool Offers 36M COMMON in Rewards

Bitget, the top Universal Exchange (UEX), has introduced the COMMON token to its Launchpool, as…

October 28, 2025