BTC/USD broke above the 10000 levels and hit 10300 levels. However, it could not hold its strength and is currently trading at 9905 levels at the time of writing (Bitstamp).

On the topside, a decisive break above 10143 (4h 200-SMA) would see the pair testing 10719 (90-EMA)/11000. Further strength would target 11171 (38.2% retracement of 19666 and 5920.72)/11592 (50-DMA)/12247 (trend line joining 19666 and 17234).

On the reverse side, support is likely to be found at 9768 (2h 20-SMA) and any violation would drag it to 9242 (20-DMA)/8803 (10-DMA). Further weakness would target 8223 (200-DMA)/ 8000/ 7500/ 7000/ 6717 (lower Bollinger).

Momentum studies: Bias appears bullish on the daily chart with RSI at 50, stochs biased higher, and MACD line above the signal line.

Recommendation: Good to go long on dips around 9600. SL: 8800. TP: 10143/10720/11000

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