An immediate support is near the $10,200 level. It coincides with the 50% Fib retracement level of the upward move from the $9,488 low to $10,960 high. If there are more downsides, the price could decline further towards the $10,000 support.
If the price fails to stay above the $10,000 support, it could revisit the $9,488 swing low. Additionally, the price may even tumble below the $9,488 low and trade to a new monthly low. Conversely, if there is an upside correction, the price could test the $10,400 and $10,500 resistance levels. Additionally, the main resistance is near the $10,600 level and the 100 hourly simple moving average.
Looking at the chart, bitcoin price is facing a solid rise in selling pressure below $10,500. Therefore, there is a risk of more downsides below the $10,200 support. More importantly, a successful break below the $10,000 support might start a strong downward move. The next stop for the bears could be $9,500 and $9,200 in the coming sessions.