After touching the daily low of $10,192, BTC/USD is now attempting to rebound higher. Today, Bitcoin (BTC) managed to find support close to $10,000 and now making its way toward the $11,800 region. Moreover, despite all the recent declines in price, the Bitcoin (BTC) remains in trading sideways below the 9-day and 21-day moving averages.

What to Expect from Bitcoin (BTC)
However, Bitcoin is currently neutral at this moment in time and may prevent itself from turning bearish if the coin can manage to break back above the moving averages pretty quickly. Similarly, for the coin to start creating a short term bullish trend, it would need to break above $11,000. More so, if the bulls push higher, the first level of resistance lies at $10,800. Above this, other resistance levels are located at $11,100, $11,300, and $11,500.

On the other hand, if the sellers push lower and it crosses below the moving averages, the support levels may be found at $9,900, $9,700, and $9,500. Meanwhile, as the daily chart reveals, the RSI (14) is suggesting an upward movement for the coin where the signal line is seen moving above 48-level.

Reference by: Azeez Mustapha