BTCUSD $10,500 Pivot

Bitcoin is struggling to hold onto recent gains, as intraday strength in the US dollar index and risk-off sentiment weigh on the cryptocurrency. The BTCUSD pair needs to anchor price above the $10,500 level to encourage technical buying towards $11,000. To the downside, a breakout under the $10,200 level could see the BTCUSD pair tumbling towards the $9,600 support area.

The BTCUSD pair is only bullish while trading above the $10,500 level, key resistance is found at the $11,100 and the $11,400 levels.

If the BTCUSD pair trades below the $10,500 level, sellers may test the $10,200 and $9,600 levels.

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Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

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